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Hungary international reserves slightly up in November

Hungary's international reserves stood at €33.415 billion at the end of November, up €56m in a month, preliminary National Bank of Hungary (MNB) figures published on Tuesday show.

The slight rise in November came after a combined drop of more than €1.9 billion in the previous two months. The bulk or almost €1.6 billion of that drop happened in September, reflecting the redemption of a €1 billion foreign bond which cut the reserves to their lowest level since February this year. In euro terms, the 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.

The reserves at the end of November were €2.738 billion higher than they were at the end of December 2009, and were up €2.562 billion from a year earlier.

In dollar terms, Hungary's international reserves fell $2.660 billion last month to $43.462 billion at the end of November. 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 November were $715 million lower than at the end of December, and were down $2.951 billion in twelve months. (MTI – Econews)