Hungary’s central bank increases gold reserves by 16.4%
MNB now has highest per capita bullion stocks in central and eastern Europe
The Central Bank of Hungary (MNB) announced on September 30 that it was buying 15.5 tonnes of gold, thereby giving it the highest per capita gold reserves of any country in central and eastern Europe.
The MNB said the decision was aligned with its “long-term national and economic strategic goals”. Gold, it said, complemented foreign exchange reserves “even under normal conditions”, but during times of financial and geopolitical uncertainty it could be a safe-haven asset that supported financial
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