Finance
Hungarian Forint Jumps After Orban's Election Defeat
Published by Global Banking & Finance Review®
Posted on April 13, 2026
2 min readLast updated: April 13, 2026
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Published by Global Banking & Finance Review®
Posted on April 13, 2026
2 min readLast updated: April 13, 2026
Add as preferred source on GoogleHungary’s forint surged ~2% versus the euro and ~1.6% versus the dollar on April 13, hitting near multiyear highs, buoyed by investor optimism after Prime Minister Viktor Orbán’s defeat by pro‑EU challenger Péter Magyar’s Tisza party in overwhelming fashion.
SINGAPORE, April 13 (Reuters) - The Hungarian forint sharply extended recent gains on Monday, making an almost three-year peak on the euro, as investors bet on a boost for the economy from the stunning defeat of veteran nationalist Viktor Orban nL1N40V01B at the ballot box.
The forint rose roughly 2% to 367.81 per euro in thin Asian trade and gained about 1.6% to 315 per dollar - within a whisker of a four-year high. [EMRG/FRX]
Hungarian dollar bonds, also trading thinly outside their usual hours, steadied after a recent rally.
In an election cast by Orban's centre-right opponent as a choice between east and west, voters turned out in record numbers to end Orban's 16-year rule nL8N40V07J and hand power to his one-time ally Peter Magyar, who leads the Tisza party.
Investors nL1N40Q0A6 had been bidding up Hungary's stocks, bonds and currency in days leading up to the election, figuring a pro-Europe turn could start to unlock some 18 billion euros ($21 billion) of frozen European Union funding.
The outcome of the vote will also affect other countries such as Ukraine - where Orban is currently blocking a 90 billion euro EU loan. Ukrainian dollar bonds did not trade early in the Asia session.
"Orban, has conceded defeat, implying a smooth transition of power," Goldman Sachs analysts said in a note on Sunday.
"Tisza has committed to meeting the Maastricht criteria by 2030 to prepare for eventual Euro area accession," they said, referring to the euro's founding Maastricht Treaty.
"If it is serious about meeting this goal, one of the first steps in a euro convergence programme would be to lower Hungary’s inflation target from 3% currently to the Euro area’s 2%, a development that would imply a significant decline in Hungary’s long-term yields."
($1 = 0.8561 euros)
(Reporting by Tom Westbrook; Editing by Lincoln Feast.)
The forint rose about 2% to 367.81 per euro and gained 1.6% to 315 per dollar, nearly reaching multi-year highs.
The Tisza party has committed to meeting Maastricht criteria and potentially lowering Hungary’s inflation target for euro area accession.
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