MNB international reserves fall more than €1 bln in August

MNB

The National Bank of Hungaryʼs international reserves stood at €33.536 bln at the end of August, down €1.079 bln from the end of the previous month, data released Tuesday show, news agency MTI reported.

The reserves were down €1.042 bln from the end of last year.

In August, foreign currency reserves were down a slight €47 mln from the previous month, but other reserve assets fell a sharp €1.033 bln.

The head of Hungaryʼs Government Debt Management Agency (ÁKK), György Barcza, said in August that Hungary aimed to make an early repayment of at least €1.2 bln of its FX debt this year, but it could pre-finance even more if forint issues continue to exceed expiries.

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