Bundesbank reports profit fall on dollar weakness

The German Bundesbank on Tuesday 15 March reported a net profit of A€676 million (US$904 million) for last year , a figure that came in far short of government budget projections as the weak dollar lowered the value of foreign-currency holdings.

The Finance Ministry, which had projected income from the Bundesbank of A€2 billion (US$2.6 billion) in its budget, said the shortfall "was to be expected" and was "controllable."

Speaking at the Bundesbank's annual results news conference, Bundesbank

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