By Veronika Gulyas and Margit Feher

BUDAPEST--Hungary's currency the forint is moving in sync with other emerging market currencies, Ferenc Gerhardt, one of the deputy governors of the Hungarian central bank, said Monday.

"Sometimes, we improve even if we don't deserve it, and other times we deteriorate when we also don't deserve it," Mr. Gerhardt told reporters on the sidelines of a press conference.

The forint has been weakening for more than a week and the currency has been described by traders as the worst performing among emerging-market currencies.

Early Monday, the forint was trading at HUF315.26 against the euro, which compares to levels around HUF306 before the Ukrainian-Russian crisis escalated.

Mr. Gerhardt added that the central bank's statement from last week's rate decision was still valid regarding the forint.

"International investment sentiment slightly deteriorated over the past month, mostly as a result of the escalation of geopolitical conflicts and changes in expectations for the US Federal Reserve interest rates.[...] The Hungarian forint weakened mostly together with other regional currencies," said the central last week after it decided to keep its key policy rate unchanged at a record low of 2.10%.

Write to Veronika Gulyas at veronika.gulyas@wsj.com; Twitter: @VeronikaGulyas1