For traders who would like to expand or diversify their forex portfolio, the EUR HUF pair offers intriguing profit-making potential. This exotic pair tracks the value of one Euro (EUR) in terms of the Hungarian Forint (HUF). The Forint has been Hungary’s official currency since 1946, but only became fully convertible on the global market in 2001 after a period of high inflation.
The long-term future of HUF is unclear, however.
As of January 2020, Hungary is one of nine European Union (EU) member states that have not adopted EUR as its official currency. Much like others such as Romania and the Czech Republic, this is expected to happen at some point. But it is not yet known when, with initial target dates including 2008 now long since passed. Public support for adopting the Euro has also fallen.
In the short-term, however, the EUR HUF pair remains an option for investors looking for a less familiar forex instrument. Prone to volatility and showing bullish tendencies in recent times, the EUR HUF pair could be a useful addition to your trading portfolio in order to maximise returns.