The Hungarian forint weakened significantly against the euro and the US dollar on 14 September 2026 amid deteriorating global sentiment and surging crude oil prices before staging a partial recovery in the evening. Pressure built after crude prices jumped, pushing the currency down as much as 1 percent against the euro earlier in the day.
Central European currencies face pressure
In afternoon trading, the euro climbed to a peak of 367 forints, while the dollar reached 318 forints. Other regional peers also declined, with the Polish zloty dropping 0.5 percent against the common currency while the Czech koruna slipped 0.2 percent.
By evening, the forint recovered part of its intraday loss to stand at 365 per euro, leaving it down 0.4 percent compared to Friday evening and 0.5 percent lower on the session. The dollar stood at 316 forints by evening after strengthening 0.5 percent across broader foreign exchange markets.
Supply disruptions lift crude benchmark
Energy markets shifted sharply after a drone attack targeted Saudi Arabia’s strategic East-West pipeline, which bypasses the Strait of Hormuz to deliver crude to the Red Sea. The conduit possesses a daily capacity of 7,000,000 barrels. The facility faces an estimated shutdown lasting between 3 weeks and 5 weeks. Brent crude rose 3.8 percent in the afternoon and briefly touched $111 per barrel.
Crude shocks also raised fresh inflation concerns for energy-importing economies such as India, which imports 85 percent of its oil demand. India’s annual inflation reached 4.82 percent in August 2026, up from 4.44 percent in July, according to the Ministry of Statistics and Programme Implementation.
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Source: Ministry of Statistics and Programme Implementation
