Demand for MNB three-month FX swaps falls after reaching five-month high
Demand for three-month floating rate EUR/HUF swaps fell to €160m at the National Bank of Hungary’s weekly tender on Monday after reaching an almost six-month high of €560m at the previous tender.
The MNB accepted all of the bids it received.
The swaps were offered at a maximum 288.42 swap points.
The MNB has been offering three-month floating-price EUR/HUF swaps since March 2009. It also has been operating one-day FX swaps daily since October 2008. The swap facilities, with two other ones already eliminated, were launched to ease Hungarian banks’ access to FX financing.
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