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Hungarian CenBank foreign assets fall in July

Net foreign assets of Hungary's Central Bank (MNB) fell Ft 173.0 billion to Ft 3,755.3 billion in July, MNB reported.

The MNB attributed Ft 81.1 billion of the fall to exchange rate changes, while transactions accounted for Ft 91.8 billion.

Gross foreign assets of the central bank stood at Ft 4,173.1 billion at the end of July, down Ft 116.9 billion from the end of June. Exchange rate revaluation caused Ft 87.7 billion of the fall, and transactions resulted in a further Ft 29.2 billion of the decrease. Gross foreign central bank assets were down Ft 186.1 billion from the end of 2007 and fell Ft 220.1 billion in twelve months.

Total external liabilities rose Ft 56.1 billion to Ft 417.8 billion as transactions raised their value by Ft 62.7 billion and exchange rate changes reduced it by Ft 6.6 billion. Gross foreign liabilities stood just Ft 528 million down from the end of 2008 but fell Ft 99.2 billion in twelve months. (MTI – Econews)