Iceland cuts back on regular currency purchases
Reserves have reached more than 120% of IMF’s preferred metric
The Central Bank of Iceland is scaling back its regular foreign currency purchases.
The bank explained its decision to reduce its purchases from €12 million ($13.9 million) to €6 million per week in a press release on November 14.
It had started regular currency purchases in April, with the objective of increasing the “domestically financed share of the bank’s international reserves and to meet the treasury’s need for currency”. The amount regularly purchased was doubled on June 12 to €12 million
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: subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com test test test
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com test test test
More on Strategic Planning
Hungary to receive Argentina-style US swap line, PM suggests
‘Financial shield’ to render EU measures ineffective, Orbán says
Denmark and Sweden should join eurozone, Finnish governor says
Scandinavian countries would benefit from cheaper infrastructure, says Olli Rehn
Working group minutes: strategic plans becoming more inclusive
Central banks are seeking input from wider range of staff and stakeholders
Climate change harming global economy – BoK study
Study finds high income countries more vulnerable to climate change, in contrast to other research
MAS names first asset managers for stock market support fund
Singapore places first S$1.1 billion of S$5 billion fund with Avanda, Fullerton and JP Morgan
Sino-Egyptian collaboration could reshape global monetary order – expert
MoU provides further evidence of shift towards multipolar world, says professor
New Zealand’s ageing population may drive down rates – study
RBNZ research says “grey wave” may make it harder to stimulate economy with cuts
Central banks of China and Brazil pledge deeper financial ties
PBoC and BCB commit to bilateral currency swaps and “financial strategic co-operation”