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International reserves rise €236 mln in May

Hungary's international reserves increased €236 million in May, after a €1.081 billion fall in April, National Bank of Hungary (MNB) figures released on Wednesday show.

International reserves stood at €16.983 billion at the end of May, up €1.262 billion from the end of 2005 and €2.858 billion more than twelve months earlier.
Boosting reserves this year to between €16 billion and €17 billion is the central bank's stated policy, central bank governor Zsigmond Járai announced early in the year. He said at the time that the bank aims to keep foreign currency reserves at a high level, citing uncertainties related to general elections in April, to Hungary's fiscal situation and to the global economic environment.
In dollar terms, international reserves stood at $21.853 billion at the end of May, up $817 million in a month and up $3.25 billion from the end of 2005. In dollar terms, Hungary's international reserves rose $4.354 billion in the twelve months to the end of May.