MNB international reserves boosted by SDRs

MNB

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International reserves of the National Bank of Hungary (MNB) stood at EUR 33.724 billion at the end of August, up EUR 2.313 bln from a month earlier, lifted by a big increase in special drawing rights (SDRs), state news wire MTI reports, citing data released by the central bank on Tuesday.

The value of IMF SDRs jumped to EUR 2.24 bln from EUR 3 million.

The IMF board of governors approved a general allocation of SDRs equivalent to USD 650 bln on August 2, 2021, to boost global liquidity. The general allocation, made to IMF members participating in the SDR department in proportion to their existing quotas in the fund, became effective on August 23, 2021.

IMF data show Hungary's SDR quota stands at SDR 1.94 bln, equivalent to about EUR 2.296 bln, calculating with the exchange rate on August 31, 2021. 

Stock of cash, deposits and securities in the MNB's international reserves climbed EUR 104 mln to EUR 26.408 bln during the month. Stock of monetary gold edged down EUR 4 mln to EUR 4.665 bln.

The reserves were EUR 47 mln higher than at the end of 2020.

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