Hungary’s Simor under fire over financial loss

andras-simor

András Simor, the governor of the National Bank of Hungary, on Monday dismissed criticism over his management record after the central bank reported a loss in 2010.

The National Bank of Hungary's 2010 Annual Report published on June 7, showed the central bank incurred a loss of Ft41.5 billion ($224 million) for the year, compared with a profit of Ft65.5 billion the year before.

The report said the deterioration in profits resulted from the effects of currency fluctuations on its foreign exchange

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