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MNB FX swap stock to edge up after tender

The stock of fine-tuning FX swaps of the National Bank of Hungary (MNB) will rise to around HUF 1,562 billion after a tender on Monday, data released by the central bank show.   

The MNB allotted HUF 10 bln of one-month swaps and HUF 10 bln of twelve-month swaps against euros at the tender. As no swaps are maturing on April 18, the value date of the tender, the total swap stock will increase by HUF 20 bln.

The tender will bring the composition of the stock to HUF 41.2 bln of one-month, HUF 24.8 bln of six-month, and HUF 1,496.5 bln of twelve-month swaps.