The audit of the National Bank of Hungary's (MNB) gold reserves has been completed; the 94.73 tons of gold reserves stored in Hungary are in perfect condition, the MNB announced on its Facebook page on Thursday.
According to the announcement, central bank governor Mihály Varga, ordered the audit of the gold reserves after taking office, and it also included a thorough inspection of the weight of the reserves.
The audit found that the 94.73 tons of gold reserves held in Hungary are complete and in perfect condition. A smaller portion of Hungary's gold reserves, 15.5 tons, is stored in the Bank of England's vault in London.
The importance of a country's gold reserves lies in their stability: in addition to maintaining the stability of the financial system, they also play a key role in strengthening investor confidence, according to the MNB's social media page.
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