Hungary's constitution vote hits forint Hungary's currency came under renewed pressure on Monday following a move to restrict the influence of central bank deputies and ahead of a parliamentary vote on a controversial amendment to the constitution that has drawn international concern. The forint fell to Ft303.6 to the euro at one point on Monday, a nine-month low and 1.7 per cent down on Thursday's close. It has since recovered some ground, trading at Ft302.98 to the euro in mid-afternoon trading. "The constitutional amendment issue is very important, it elevates concerns around the government and its policies, and although I think the situation at the central bank is a more important factor, we expect depreciation may continue depending on [the outcome] today," says Gergely Gabler, an analyst with Equilor Investments, a domestic brokerage. The 14-page package on the constitution, affecting areas ranging from the definition of the marriage and family to obligations regarding student grants and restrictions on political advertising, has ignited political awareness among Hungary's otherwise largely docile students - some of whom occupied the headquarters of the ruling party Fidesz in Budapest last Friday. Hungary's parliament, in which Fidesz holds a two-thirds majority, is expected to pass the motion on the constitutional amendment on Monday despite strongly worded international concern that many of the measures are a reworking of legislation previously rejected by Hungary's constitutional court. Thorbjørn Jagland, head of the Council of Europe, the continent's top human rights watchdog, on Wednesday called on Hungary to postpone the vote so the council could review the amendments. Mr Jagland warned that elements of the amendments "might endanger the fundamental principle of checks and balances in a democracy." The US state department on Thursday used similar language, expressing concerns the amendments could "threaten the principles of institutional independence." José Manuel Barroso, president of the European Commission, followed up on Friday afternoon with a phone call to Prime Minister Viktor Orbán expressing concern about the vote. Mr Orbán immediately wrote a three-paragraph letter to Mr Barroso insisting Hungary's government and parliament was fully committed to "European norms and rules." "I should like also to assure you that this commitment has been and is going to be reflected throughout the process of adopting the modifications to the Fundamental Law," Mr Orbán added. The move on Friday by the newly appointed central bank governor Gyorgy Matolcsy to curb the influence of his deputies appears to pave the way for the early introduction of looser monetary policy. Mr Matolcsy rattled investors and business sectors with his "unorthodox" policies during his previous spell as minister of the economy. Mr Matolcsy has stressed that the central bank should work as a "strategic partner" with the government. This is widely taken to mean the new governor will work to encourage lending in its efforts to promote growth and jobs. He has also criticised previous policies of outgoing governor András Simor, saying that a policy of maintaining a strong forint was misguided. "The stripping of the two deputy-governors of their major functions on Friday afternoon [has sparked] market speculation that [Mr Matolcsy] will be able to introduce unconventional elements this month," Mr Gabler said.