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Hungary international reserves drop EUR 314m in October

Hungary's international reserves stood at €33.362 billion at the end of October, down €314 million from the end of September, preliminary National Bank of Hungary (NBH) figures published on Friday show.

The drop was the third monthly decline this year and followed a €1.596 billion decline in September when the Hungarian government repaid a €1 billion foreign bond.

In euro terms, central bank international reserves reached an all-time peak at €35.272 billion at the end of August.

End-of-October reserves were at the lowest level this year but were still €2.685 billion higher than they were at the end of December 2009, and were up €2.950 billion from a year earlier.

In dollar terms, Hungary's international reserves rose $217 million last month to $46.127 billion at the end of October. The rise followed a $217 million increase in September. Except for a 2.69 billion drop in May and a similar-size increase in July, dollar-term reserves have been fairly stable, fluctuating between $44 billion-46 billion since last autumn.

Dollar-term reserves at the end of October were $1.95 billion higher than at the end of December and were up $1.017 billion in twelve months. (MTI Econews)