OMRI DAILY DIGEST
No. 195, 8 October 1996
RUSSIAN BONDS RATED INVESTMENT GRADE. Finance Minister Aleksandr
Livshits told a Moscow briefing on 7 October that Russian government
bonds have been awarded a 2B grade by the three leading international
credit rating agencies, NTV reported. Livshits said that the 2B group
includes India, Mexico, and Hungary, and places Russian state bonds
ahead of those from Turkey, Venezuela, or Brazil. Livshits said, "It is
true that we have a bad reputation as a persistent debtor, but a 2B
rating in our pocket will reduce the harm this causes." This clears the
way for Russia to issue long-term Eurobonds later this year, presumably
at interest rates lower than the 55-70% required on the domestic
treasury bill (GKO) market. Russia's international debts total some $130
billion, including old Soviet debts plus another $19 billion acquired
since 1991. Russia is late in paying interest, let alone principal
repayments, on this debt, so the favorable bond rating is surprising. --
Peter Rutland
HUNGARIAN PREMIER TO LAUNCH PARLIAMENTARY PROBE INTO PRIVATIZATION
SCANDAL. After a parliamentary debate on the recent privatization
scandal, Gyula Horn has pledged a full investigation into the activities
of the privatization agency's top-level management, Hungarian dailies
reported on 8 October. Deputies agreed to set up a parliamentary
commission to investigate further details of the case. Meanwhile, the
press speculated on Tamas Suchman's successor as industry and trade
minister. According to Nepszabadsag, Imre Karl, the commissioner in
charge of examining energy costs ahead of next year's energy price
increase, Socialist economist Laszlo Puch, and Ikarus and Videoton
President Gabor Szeles are being considered. To calm international fears
of uncertainty regarding future privatization deals, Horn stressed that
"privatization policy will not change, all concluded contracts are valid
and the government will honor the commitments specified therein." --
Zsofia Szilagyi
[As of 12:00 CET]
Compiled by Victor Gomez
Compiled by Pete Baumgartner
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#+--------------------------------------------------------------------+
#| A Magyar Nemzeti Bank hivatalos deviza- es valutaarfolyamai |
#| Official exchange rates of the Hungarian National Bank |
#| Az adatok tajekoztato jelleguek, felelosseget nem vallalok. |
#| Az esetleges hibakert elnezest kerek. Velemenyeket es javitasokat |
#| szivesen fogadok. |
#| FYI, no responsibility. Opinions, corrections are welcome. |
#+--------------------------------------------------------------------+
#| vetel/BUY eladas/SELL < A kereskedelmi bankok arfolyamsavjai |
#| USD 144-152 156-160 < Rates of commercial banks |
#| DEM 97-99 103-105 < (HUF) |
#+---tovabbi info/further information available:http://www.fornax.hu--+
#
# VALUTA; KOZEP; VETEL; ELADAS; EGYSEG; MEGJEGYZES
# TYPE; MEAN; BUY; SELL; UNIT; REMARKS
DATE=1996-OCT-04
UNIT=HUF
SOURCE='NAPI Gazdasag, 1996-OCT-05, p.12'
GBP; 248.60; 246.47; 251.23; 1; angol font (skot es eszakir is)
AUD; 125.40; 124.13; 126.53; 1; ausztral dollar
BEF; 503.95; 499.37; 509.39; 100; belga (es luxemburgi) frank(100)
DKK; 27.05; 26.81; 27.35; 1; dan korona
FIM; 34.73; 34.46; 35.14; 1; finn marka
FRF; 30.66; 30.37; 30.97; 1; francia frank
GRD; 0.00; 65.23; 66.53; 100; gorog drachma(100) (kozepar nincs)
NLG; 92.50; 91.64; 93.48; 1; holland forint
IEP; 254.11; 251.69; 256.63; 1; ir font
JPY; 142.47; 141.03; 143.85; 100; japan jen(100)
CAD; 116.70; 115.65; 117.87; 1; kanadai dollar
KWD; 529.05; 524.22; 534.42; 1; kuvaiti dinar
DEM; 103.76; 102.82; 104.88; 1; nemet marka
NOK; 24.40; 24.17; 24.65; 1; norveg korona
ITL; 104.45; 103.64; 105.66; 1000; olasz lira(1000)
ATS; 14.75; 14.61; 14.91; 1; osztrak schilling
PTE; 102.48; 101.60; 103.60; 100; portugal escudo(100)
ESP; 123.23; 122.16; 124.58; 100; spanyol peseta(100)
CHF; 126.37; 125.27; 127.79; 1; svajci frank
SEK; 24.00; 23.79; 24.25; 1; sved korona
USD; 158.82; 157.32; 160.38; 1; USA-dollar
XEU; 198.29; 196.34; 200.22; 1; European Currency Unit (ECU)
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