Hungary’s Foreign Currency Reserves Drops 12 Percent in January

Hungary’s foreign currency reserves dropped 12 percent in January from December, according to central bank data published on its website today.

Foreign currency reserves fell to 31.1 billion euros ($40.7 billion) at the end of January from 35.1 billion euros at the end of December, the Magyar Nemzeti Bank said. Total reserves dropped to 37.3 billion euros from 37.8 billion euros in the same period as an increase in “other reserve assets” tempered the drop.

To contact the reporter on this story: Zoltan Simon in Budapest at zsimon@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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