Hungary’s Weaker Forint Raises Retail Lending Stock
- 1 Oct 2014 9:00 AM
Hungarian households repaid a net 11.4 billion forints (EUR 36.77m) of their outstanding loans in August, but the weaker forint raised retail lending stock by 58.5 billion forints from the end of the previous month, a monthly report published by the National Bank of Hungary shows.
Retail lending stock edged up to 6,851.6 billion forints as a result.
The forint weakened about 1% against the euro between the end of July and the end of August.
Households repaid a net 24.2 billion forints of their FX loans but were net borrowers of 12.8 billion in forints. Retail deposits stood at 6,672.9 billion forints at the end of August.
Households were net depositors of 32.3 billion forints during the month.
Source www.hungarymatters.hu
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