International reserves fall in August

MNB

Hungary’s international reserves stood at €30.55 billion at the end of August, falling €3.18 billion from €33.73 billion a month earlier, according to the latest round of National Bank of Hungary (MNB) figures.

The main factor behind the drop was the advance repayment of Hungary’s 2008 IMF loan.

The central government paid off about HUF 720 million on August 6 to the IMF and the state of Hungary paid off HUF 2.2 billion on August 12.

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