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Foreign investors buy net €4.5bn worth Hungarian forint securities in 2011

Telco

Non-resident or foreign investors bought net HUF 1,264.1bn of forint-denominated Hungarian government securities in 2011, investing more than €4.5bn at last year’s average exchange rate, data from the State Debt Management Agency (AKK) show.

Last year’s net foreign investment in government securities was more than three times the HUF 377bn of net purchases in 2010.

The data published by AKK and the National Economy Ministry show foreign investors played a key role in budget financing last year.

They not only took up the equivalent of last year’s net deficit-financing issues of forint bonds and of discount T-bills, totalling HUF 707bn, but they bought a further net HUF 557bn worth of forint-denominated government papers on the secondary market in 2011.

The stock of government securities in foreign hands rose in the first nine months of 2011 to reach a record high of HUF 4,015bn on September 14 before slipping to HUF 3,796.8bn on December 30, 2011.

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