MNB Int'l Reserves Fall EUR 1.639 bln in July

MNB

Image by Jessica Fejos

International reserves of the National Bank of Hungary (MNB) stood at EUR 35.841 billion at the end of July, down EUR 1.639 bln from a month earlier, state news wire MTI reports, citing data released by the central bank on Friday.

In an explanatory note, MNB said the decline was mainly due to the repayment of repo liabilities, based on international framework contracts, financing foreign exchange swap tenders providing end-of-quarter euro liquidity in June.

The stock of cash, deposits, and securities in the reserves fell EUR 1.625 bln to EUR 27.807 bln during the month.

The value of monetary gold in the reserves edged down EUR 42 million to EUR 5.243 bln.

MNB's international reserves were EUR 2.537 bln under their level at the end of 2021.

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