MNB allots HUF 200 bln at one-month EUR/HUF swap tender
The National Bank of Hungary (MNB) allotted HUF 200 billion of one-month forint swaps against euros at a tender on Monday, the central bank said. Bids from the eight participating banks came to EUR 1.131 bln (HUF 351 bln), state news wire MTI reported.
The central bank introduced the tenders for the FX swaps last autumn as a "fine-tuning instrument" for market liquidity after it put a cap on placements in three-month deposits, its main sterilization instrument.
The central bank has said it continuously observes liquidity trends and stands prepared to hold further tenders for the instruments if it sees "substantial and lasting" deviations.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.