Hungarian households net borrowers in forint, net repayers in FX in Sept
Hungarian households were net borrowers in forints but net repayers in foreign currency in September, just as in August, the National Bank of Hungary's aggregated balance sheet of credit institutions published Friday shows.
Banks' stock of retail loans, excluding revaluations and other changes, fell by HUF 26.1bn. Within this, forint borrowing exceeded repayments by HUF 10.9bn and outstanding foreign currency borrowing fell by HUF 37.0bn. The sector's deposits rose by HUF 35.6bn due to transactions, reflecting net inflows into forint deposits of HUF 126.5bn and net withdrawals from foreign currency deposits of HUF 90.8bn.
The sector's deposits rose by HUF 35.6bn due to transactions, reflecting net inflows into forint deposits of HUF 126.5bn and net withdrawals from foreign currency deposits of HUF 90.8bn.
The weakening of the forint's exchange rate to the euro from 271.28 in August to 292.12 in September strongly contributed to the increase in deposits of households, the MNB noted.
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.