Magyar Nemzeti Bank

The Magyar Nemzeti Bank is the central bank of Hungary, established in 1924. The MNB is a member of the European System of Central Banks, and its primary objective is to achieve and maintain price stability. Without prejudice to its primary objective, the MNB supports the economic policy of the Government, using the monetary policy instruments at its disposal, while the promotion of environmental sustainability has also been found among the MNB’s statutory objectives. It performs all key central bank functions including holding and managing official reserves in foreign currency and gold, developing and monitoring payment and settlement systems, promoting the stability of the financial system, issuing banknotes and coins, collecting and publishing statistical information, and setting and publishing official exchange rates. MNB fosters digital transformation of the financial system to become more efficient and competitive, which is of utmost importance due to the long-term impacts of the pandemic.

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