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Hungary international reserves rise €260 mln in December

Hungary's international reserves stood at €33.675 billion at the end of December 2010, up €260 million in a month, preliminary National Bank of Hungary (MNB) figures show.

The reserves rose a combined €317 million in the last two months after a combined drop of more than €1.9 billion in the previous two months, partly reflecting the redemption of a €1 billion foreign bond in September. In euro terms, the central bank international reserves reached an all-time high at €35.174 billion at the end of June, and has moved both directions since then.

The reserves rose almost €3 billion from the end of December 2009.

In dollar terms, Hungary's international reserves rose $1.527 billion in December after a $2.660 billion drop in November, and reached $44.989 billion at the end of last year. Previously, except for a 2.69 billion drop in May and a similar-size increase in July, dollar-term reserves were fairly stable, fluctuating around $45 billion since last autumn.

Dollar-term reserves at the end of December were up $812 million in one year. (MTI – Econews)