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Hungary’s international reserves drop €327 million in July

Hungary's international reserves stood at €34.847 billion at the end of July, down €327 million in a month, reversing a similar-size rise in June, preliminary National Bank of Hungary (MNB) figures show.

The drop was the first drop in euro-term reserves this year, and could partly reflect exchange rate movements.

The reserves were €still 4.171 billion higher at the end of July than they were at the end of December 2009, and rose €5.437 billion from a year earlier.

In dollar terms, Hungary's international reserves rose 2.498 billion last month to $45.465 billion at the end of July. Dollar-term reserves were little changed in June after falling $2.69m in May.

Dollar-term reserves at the end of July were $1.288 billion higher than at the end of December and were up $4.024 billion in twelve months. (MTI – Econews)