Hungary international reserves fall €896 mln in July
Hungary's international reserves stood at €36.106 billion at the end of July, down €896 million from a month earlier, preliminary data published by the National Bank of Hungary (MNB) on Friday show.
The data show a big €836 million decline in "other reserve assets", which contain financial derivatives and loans to non-bank nonresidents, to €1.678 billion. Currency reserves were down €83 million at €33.503 billion.
The international reserves at the end of July were up from €33.674 billion the end of 2010 and €34.847 billion at the end of July 2010.
Hungary's international reserves reached an all-time high of €37.637 billion at the end of May.
In dollar terms, Hungary's international reserves stood at $51.545 billion at the end of July, down $2.047 billion from a month earlier.
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.