International reserves rise €149 mln in September

MNB

Hungary's international reserves stood at €35.6 bln at the end of September, rising €149 mln as compared to a month earlier, preliminary data published by the National Bank of Hungary (MNB) revealed today.

The reserves rose €1.9 bln from the end of last year and were up €4.8 bln as compared to a year earlier. No foreign bond redemptions or issues took place in September.

The subsequent big foreign expiry, which would also be the last one for this year, is a €2 bln instalment scheduled for November on the country's 2008 loan from the European Union.

This year, Hungary has already repaid the following: a €1 bln government bond on January 29, a £500 mln bond on May 6 and a €1 bln bond on July 28.

Net transfers from the EU are a main factor in raising Hungary's international reserves. Net inflows from the EU totaled €2.9 bln according to cashflow-based calculations in the first half of the year, according to data in the MNB's H1 report.

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