The Euro vs. Hungarian Forint, also known as EURHUF, is a currency cross between the currency of the Eurozone, i.e., EURO, and the currency of Hungary, i.e., HUF. The EURHUF currency pair is commonly traded on the forex market and attracts traders and investors interested in the Hungarian economy or who want to diversify their currency portfolios. Moreover, the EURHUF price is subject to fluctuations.

What is EURHUF?

The EURHUF currency pair began in May 2004 when Hungary joined the European Union. Since then, the EURHUF currency pair was introduced to allow for trading of the EURO against the HUF.

Though EURHUF is traded chiefly on the forex market, various factors affect its price. The interest rates on a currency are the key drivers to attract investors, and these rates are set by the European Central Bank (ECB) and the National Bank of Hungary (NBH). Economic data releases talk about a country's GDP, employment rate, trade balance, and other economy-related things. When the data is positive for the Eurozone compared to Hungary, the EURO strengthens, causing the exchange rate to increase.Investors who want to find out how to trade EURHUF mus keep tabs on such specific characteristics.

How does EURHUF work?

It works through trading in the forex market on online platforms like SimpleFX. It provides solutions such as a demo account, which enables traders eager to learn how to invest in EURHUF start without risking their real assets.

Traders must understand the meaning of internal and external geopolitical events. The value of a currency decreases when there's political unrest in a country. For instance, if the Eurozone is struggling politically, the value of the EURO depreciates, causing the exchange rate to decrease. Conversely, political instability in Hungary leads to increased exchange rate value. Developments in other major economies, such as the United States or China, also impact the EURHUF exchange rate because they impact global trade and financial markets.

EURHUF price history

If a trader is interested in EURHUF currency pairs, he must check out its past performance in the forex market. Investors can analyze summarized past years' performance.

2018

The year started with the exchange rate at 310.591 HUF and ended at 321.7007 HUF. The best EURHUF price for the year was 329.9758 HUF, whereas the worst value was 308.183, recorded on 2nd July and 4th January, respectively. The average value of the year was 318.8481 HUF.

2019

At the start of the year, the EURHUF price was 321.2156; by the end, i.e., 31st December 2019, the value was 331.4411 HUF. The best average of the year was 336.418 HUF on 27th November 2019. On 19th March 2019, the worst value of 313.0694 HUF was observed. The average value of the year was 325.382 HUF.

2020

On Wednesday, 1st January 2020, the exchange rate price was 330.9097 HUF, whereas on 31st December 2020, it was 362.7135 HUF. The best price for 2020 was 368.3924 HUF on 28th October 2020; the worst value was 328.9799 HUF, recorded on 2nd January 2020. The year's average EURHUF price was 351. 2373 HUF.

2021

When the year started, the exchange rate was at 360.3025 HUF; in the end, it was at 369.2287 HUF. The best and worst prices were 370.3432 HUF and 345.889 HUF on 29th December 2021 and 6th June 2022, respectively. The average price of the currency for the year was 358.5425 HUF.

2022

The year started with EURHUF at 369.3213 HUF, ending at 400.4922 HUF. The best price was 432.3213 on 12th October, whereas the worst price was 352.9835 HUF on 9th February. The average value of the year was 391.1511 HUF.

Current EURHUF price

The current EURHUF price is subject to fluctuation due to the volatility of the forex market. Investors can check it on the chart or the SimpleFX Webtrader platform.

Is EURHUF a good investment?

Whether EURHUF is a good investment depends on factors such as interest rates, monetary policies, geopolitical events, etc. The answer depends on analyzing these factors and the potential returns on investment. If the factors are also stable and there are more chances of return, this currency pair brings more interest from investors worldwide.

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