Hungary cbank to hold swap tenders weekly as part of growth scheme

Hungary's central bank said on Friday it would hold FX and currency interest-rate swap (CIRS) tenders on a weekly basis with a view to reducing the country's short-term external debt. The measure will ultimately serve the aim of cutting the international reserves without increasing vulnerability. The NBH will provide banks euro liquidity against forint for eight different maturities in the tenders. The tenders will be held on the first trading day of each week starting June 3.