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MNB international reserves up €500 mln in March after fall in February

Telco

The National Bank of Hungaryʼs (MNB) international reserves stood at €36.907 bln at the end of March, up €500 mln from a month earlier, fresh data published by the central bank on Tuesday show.

Reserves fell €1.824 in February due to the redemption of a $1.5 bln bond, issued by the state of Hungary in 2005 and carrying a 4.75% coupon.

In January, the reserves soared a marked €3.652 bln in the biggest increase since Hungary reached a credit agreement with the International Monetary Fund at the height of the global financial crisis in 2008.

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