EU transfers lift central bank foreign assets in October
European Union transfers received in October raised the central bank's foreign assets in an end-of-month comparison, offsetting the drop caused by the firmer forint, the National Bank of Hungary (MNB) said in a report on its monthly preliminary statistical balance on Monday.
The data show that transactions lifted the NBH's foreign assets by HUF 193.5 billion - about €680 million at the current exchange rate - in October, while the strengthening of the forint cut them by HUF 57 billion, and the assets rose to HUF 10,030 billion at the end of October. The MNB noted that average foreign assets fell on the firming of the forint by HUF 204.9 billion from September to HUF 10,004 billion.
The MNB reported that forint liquidity of Hungary's banking sector narrowed in October after a rise in September, reflected in a drop of banks' average deposits with the central bank.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
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.