President Tamás Sulyok appointed Mihály Varga to a six-year term as governor of the National Bank of Hungary (NBH) at the Sándor Palace on Monday.
The NBH governor is appointed by the president of Hungary based on the proposal of the prime minister, after a hearing before a parliamentary committee.
Before receiving his letter of appointment, the former Finance Minister swore an oath on the Fundamental Law and to exercise his office for the benefit of the Hungarian nation.
The event was attended by Prime Minister Viktor Orbán, House Speaker László Kövér, Gergely Gulyás, Head of the Prime Minister's Office and Máté Kocsis, who heads the parliamentary group of Fidesz.