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MNB to create Chinese bond portfolio

MNB

The National Bank of Hungary said yesterday that it intends to build a small Chinese bond portfolio "for economic policy and foreign currency asset diversification purposes”, Hungarian news agency MTI reported. 

"Following the decision, a small RMB bond portfolio relative to the size of the Bankʼs reserve assets may be built, which would not materially influence foreign exchange reserve adequacy," the MNB said in a statement posted on its website. The MNB will inform the general public about the realization of renminbi investments, it added.

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