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MNBʼs FX swap stock remains steady

The stock of fine-tuning FX swaps of the National Bank of Hungary (MNB) will remain around HUF 1,988 billion after a tender held on Monday, data released on the central bankʼs official website shows.

The MNB allotted HUF 25 billion of one-month swaps against euros at the tender, level with the HUF 25 bln of one-month swaps maturing on October 17, the value date of the tender.Participating banks made offers valued at a total of HUF 160.5 bln, with seven banks participating in the swaps.

The tender will leave the composition of the stock at HUF 159.5 bln of one-month, HUF 249 bln of three-month, HUF 323.5 bln of six-month, and HUF 1,265.6 bln of 12-month swaps. The FX swap stock has changed little since June, the central bank says.