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MNB FX swaps to edge up after tender

The stock of fine-tuning FX swaps of the National Bank of Hungary (MNB) will rise to a little over HUF 1,542 billion following 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, state news wire MTI reported.

About HUF 4.7 bln of six-month swaps will mature on April 11, the value date of the tender, thereby raising the total stock by more than HUF 15 bln.

The tender will bring the composition of the stock to HUF 31 bln of one-month, about HUF 24 bln of six-month, and HUF 1,487 bln of twelve-month swaps.