Hungary targets forint entry into CLS

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The Magyar Nemzeti Bank (MNB), Hungary's central bank, has committed itself to bringing the Hungarian forint into the universe of currencies settled by foreign exchange risk mitigation utility CLS, sister publication FX Week has learned.

The MNB is understood to have submitted an official letter of intent to CLS earlier this month, and it is expected that the due diligence process will begin in early February with meetings between CLS and MNB officials in Hungary.

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