MNB FX swap stock to edge up after tender
The stock of fine-tuning FX swaps of the National Bank of Hungary (MNB) will rise to around HUF 1,586 billion after a tender on Monday, show data released by the central bank and cited by state news wire MTI.
The MNB allotted HUF 10 bln of one-month swaps and HUF 10 bln of 12-month swaps against euros, both the maximum amount on offer, at the tender.
As HUF 6 bln of one-month swaps will mature on April 25, the value date of the tender, the total swap stock will increase by HUF 14 bln.
Demand was high, with bids for the one-month swaps exceeding HUF 82 bln, while bids for the 12-month swaps topped HUF 89 bln.
The tender will bring the composition of the stock to HUF 44.9 bln of one-month, HUF 24.8 bln of six-month, and HUF 1,516.4 bln of 12-month swaps.
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