Bids from the seven banks participating in the tender came to EUR 881 million (HUF 275 bln).
The central bank introduced the tenders for the FX swaps last fall as a “fine-tuning instrument” for market liquidity after it put a cap on placements in three-month deposits, its main sterilization instrument.
The MNB said it continuously observes liquidity trends and stands prepared to hold further tenders for the instruments if it sees “substantial and lasting” deviations.
Producing journalism that is worthy of the name is a costly business. For over 30 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.
