Central Bank of Iceland suspends its foreign currency purchases

Central Bank of Iceland

The Central Bank of Iceland has temporarily suspended its regular purchases of foreign currency in light of an "undesirably large" depreciation in the Icelandic króna.

The central bank began purchasing foreign currency in September 2010, at a rate of €500,000 ($660,000) a week from each market maker in the country, before doubling these acquisitions as of July 2012.

In total, the central bought approximately $150 million of foreign currency in 2012, and sold $225 million across its market

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: