May 14, 2020 / 1:03 PM / 11 days ago

Hungary cbank accepts $2.62 bln worth of bids at 1-week deposit tender

BUDAPEST, May 14 (Reuters) - Hungary’s central bank accepted 862.7 billion forints ($2.62 billion) worth of funds from banks at its 1-week deposit tender at a rate of 0.9%, the bank said on Thursday.

The National Bank of Hungary can raise the 0.9% rate on its new one-week deposit tool if market conditions justify it, the bank’s deputy governor said in April, adding that the one-week deposit rate will be the strongest interest rate in the future.

The bank holds the deposit tender every Thursday. ($1 = 328.7200 forints) (Reporting by Marton Dunai)

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