Including the gold, the MNB's total international reserves stood at euro 47.4 billion at the end of July, near to their highest-ever level.

The MNB increased the quantity of its gold reserves tenfold at a price of $1,200 per ounce in October 2018, boosting the total to euro 1.1 billion from one month to the next.

Then the MNB tripled the volume of gold reserves in March 2021 at a price of $1,700 per ounce, raising the value to euro 4.4 billion.

Since then, the volume of gold reserves has not changed.

As the price of gold peaked at $2,450 in July, the value of gold reserves also hit a record high.

*********************************

You're very welcome to comment, discuss and enjoy more stories via our Facebook page: 
Facebook.com/XpatLoopNews + via XpatLoop’s groups: Budapest Expats / Expats Hungary

You can subscribe to our newsletter here: XpatLoop.com/Newsletters

Do you want your business to reach tens of thousands of potential high-value expat customers? Then just contact us here!