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Hungary international reserves drop €1.596m in September

Hungary's international reserves stood at €33.676 billion at the end of September, down €1.596 billion in a month, preliminary National Bank of Hungary (MNB) figures published on Tuesday show.

The drop was the second drop in euro-term reserves this year after a decline in July, and followed a €425 million rise in August. In euro terms, central bank international reserves reached an all-time peak at €35.174 billion at the end of June, and has moved both directions since then. End-of-September reserves were at the lowest level since February this year.

The reserves were €3 billion higher at the end of September than they were at the end of December 2009, and were up €3.073 billion from a year earlier.

In dollar terms, Hungary's international reserves rose last month, increasing $1.177 billion to $45.909 billion at the end of 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 around $45 billion since last autumn.

Dollar-term reserves at the end of September were $1.732 billion higher than at the end of December and were up $1.036 billion in twelve months. (MTI-Econews)