MNB: Impact of franc firming requires no central bank measures
In the short term, no central bank measures are necessary on the domestic investment market due to the sharp strengthening of the Swiss franc, the National Bank of Hungary told Hungarian news agency MTI yesterday.
Data submitted so far show a few hundred investors had losses adding up to a combined HUF 10 bln, the MNB said. Just ten investment funds lost more than 5% of their net asset value, or a combined HUF 24 bln, on January 15, the day the Swiss National Bank eliminated the franc's exchange rate floor against the euro.
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