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Business & Finance

Hungary central bank provides EUR 760mn worth of funds at EUR/HUF swap tender

  • The National Bank of Hungary (NBH) has said it would hold foreign currency swap tenders at the end of each quarter if needed to reduce market volatility.
  • By providing euros via fx swaps, the NBH can ease selling pressure on the forint on the spot market.
Published December 31, 2020

BUDAPEST: Hungary's central bank provided 760 million euros ($932 million) worth of liquidity to commercial banks at Wednesday's euro/forint swap tender, accepting all bids, the bank said.

The National Bank of Hungary (NBH) has said it would hold foreign currency swap tenders at the end of each quarter if needed to reduce market volatility.

By providing euros via fx swaps, the NBH can ease selling pressure on the forint on the spot market.

At 1301 GMT, the forint traded at 363.90 versus the euro, unchanged from levels just before the tender results, but still down about 9% for the year, underperforming its central European peers.

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