Hungary's international reserves rise 1.5% m/m in January 2013.

By bne IntelliNews February 8, 2013
Hungarys international reserves stood at EUR 34.4bn as of end-January 2013, increasing by 1.5% on the month, central bank preliminary data showed. The growth was mainly thanks to other reserve assets, which surged by 79.1% m/m to EUR 2.9bn. This also offset a 2.4% m/m decline in foreign currency reserves, which was due to an early repayment of EUR 607mn on the IMF loan tranche. The payment was originally due in February 2013. The stock of the remaining components of Hungarys foreign reserves remained almost flat on the month in January. In annual comparison, the international reserves declined by 7.6% y/y as of end-January 2013, pushed down by a 45.9% y/y drop in other reserves assets. The stock of foreign currency reserves stood at at EUR 31bn, the same as in January 2012.

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