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MNB: Hungary international reserves decreased in June

Hungary's international reserves stood at €37.002 billion at the end of June, down from €37.637 billion from a month earlier which was an all-time high, National Bank of Hungary (MNB) said in a preliminary report on Thursday. Euro bond issue had a positive impact on international reserves even rhis month, experts confirm.

The decrease resulted mainly from a fall to HUF 2.514 billion from HUF 3.247 billion at the end of May of "other reserve assets" which contain financial derivatives and loans to nonbank nonresidents, while currency reserves grew to HUF 33.586 billion from HUF 33.482 billion at the end of May.

In May, the reserves got an infusion from an €1 billion bond due in January 2019 issued by the State of Hungary on May 11. The foreign issues of the government in the first five months, including the issue of $4.25 billion in 10- and 30-year bonds in March and April, raised the reserves by a combined €4 billion.

The reserves at the end of June were up from €33.674 billion at the end of December and also from €35.174 billion at the end of June 2010.

In dollar terms, Hungary's international reserves decreased to $53.592 billion in June from $54.218 billion at the end of May. Dollar-term reserves at the end of June were up from €44.988 billion at the end of 2010 and also from $42.967 billion a year ago.