The Hungarian Forint lost ground against the U.S. dollar in European trading on Tuesday, after Hungary's central bank kept its key interest rate unchanged after lowering it for third straight months.

The Monetary Council of the Magyar Nemzeti Bank maintained the base rate at 0.90 percent, in line with expectations.

The bank had reduced rate by 15 basis points each in March, April and May.

The Hungarian Forint weakened to 278.67 against the greenback, compared to yesterday's closing value of 276.37. The next possible support for the Hungarian Forint is seen around the 280.00 zone.

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