MNB international reserves rise EUR 1.339 bln in October

MNB

International reserves of the National Bank of Hungary (MNB) stood at EUR 24.999 bln at the end of October, up EUR 1.339 bln from a month earlier, data released today show, according to Hungarian news agency MTI. The reserves rose for the first month since February. 

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. 

On October 24, Hungary booked the transfer of HUF 176.5 bln in European Union funding earlier suspended because of a dispute with Brussels over the conditions for bidding in road tenders.

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