The National Bank of Hungary (MNB) issued a statement on 7 January 2017, pointing out that “foreign currency reserves of the notebank totalled EUR 24.4bn at the end of December 2016, an appropriate amount according to forex reserve adequacy standards, the indicators closely followed by international investors.” This fact is being reflected by low yields on government securities, low forint exchange rate volatility and the recent upgrades by all three major credit rating agencies. The European Commission and the International Monetary Fund (IMF) have also found in their latest reports that the amount of forex reserves at the MNB was satisfactory.

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(Ministry for National Economy)