MNB international reserves climb EUR 454 mln in February

MNB

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International reserves of the National Bank of Hungary (MNB) stood at EUR 25.165 billion at the end of February, up EUR 454 million from a month earlier, preliminary data released on Tuesday show, Hungarian news agency MTI reported.

The reserves were down by EUR 6.55 bln from the corresponding month of 2016.

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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