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EU transfers lift central bank foreign assets in October

European Union transfers received in October raised the central bank's foreign assets in an end-of-month comparison, offsetting the drop caused by the firmer forint, the National Bank of Hungary (MNB) said in a report on its monthly preliminary statistical balance on Monday.

The data show that transactions lifted the NBH's foreign assets by HUF 193.5 billion - about €680 million at the current exchange rate - in October, while the strengthening of the forint cut them by HUF 57 billion, and the assets rose to HUF 10,030 billion at the end of October. The MNB noted that average foreign assets fell on the firming of the forint by HUF 204.9 billion from September to HUF 10,004 billion.
The MNB reported that forint liquidity of Hungary's banking sector narrowed in October after a rise in September, reflected in a drop of banks' average deposits with the central bank.