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MNB international reserves climb EUR 329 mln in January

MNB

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International reserves of the National Bank of Hungary (MNB) stood at EUR 24.713 billion at the end of January, EUR 329 million more than a month earlier, preliminary data released today show, according to Hungarian news agency MTI.

The reserves were down by EUR 5.609 bln from the end of 2015.

The MNB has made reducing the reserves a matter of policy, parallel with a decline in Hungaryʼs short-term external debt. Measures that have shifted the financing of government debt to local banks and domestic retail investors, as well as a declining share of FX state debt, also support the reduction.

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