Hungarian central bank increases gold reserve tenfold
Governor Matolcsy says prime minister asked MNB to reconsider gold policy
The Central Bank of Hungary has increased its gold reserves by a factor of 10 this month, from 3.1 metric tons to 31.5, it announced today (October 16).
The MNB released a press release in Hungarian, saying that it had bought the gold this month and that its holding was valued at around $1.24 billion. The decision to suddenly increase the bank’s holdings of gold may have been strongly influenced by Hungary’s prime minister Viktor Orban, leader of the country’s right-wing Fidesz party.
Orban
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com