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Business & Finance

Hungary central bank accepts $4.56bn worth of bids at 1-week deposit tender

  • The National Bank of Hungary can raise the 0.9pc rate on its new one-week deposit tool, which it considers the strongest interest rate, if market conditions justify it.
Published June 11, 2020
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BUDAPEST: Hungary's central bank accepted 1.382 trillion forints ($4.56 billion) worth of funds from banks at its 1-week deposit tender at a rate of 0.9pc , the bank said on Thursday.

The National Bank of Hungary can raise the 0.9pc rate on its new one-week deposit tool, which it considers the strongest interest rate, if market conditions justify it, the bank has said in early April when the forint was much weaker than it is now.

The bank holds the deposit tender every Thursday.

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