The Hungarian forint staged a sharp fall against the US dollar in early European session on Tuesday following the Central Statistical Office report showed that Hungary's industrial production decreased a working day adjusted 10.8% year-on-year in October.

The figure confirmed the preliminary estimates-report said. On a monthly basis, industrial production climbed a seasonally adjusted 1.8% in October, also unchanged from preliminary estimates.

The statistical office also said that industrial export sales dropped 11.3% annually in October, while industrial domestic sales were down 11.7%.

The forint that closed yesterday's deals at 187.13 against the greenback plunged more than 2 percent to touch 190.95 around 7:30 am ET. This set the lowest level for the domestic unit since November 3rd and a drop below the 192.7 support may bring it to its lowest level in more than 3 months.

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