Iceland cbank intervenes anew as crown falls more

Iceland's central bank said on Jan. 25, 2001, it intervened in the local foreign exchange market for the second day in a row, buying one billion Icelandic crowns ($11.51 million) to halt the crown's recent slide.Iceland's inverted trade-weighted currency index rose further - meaning the crown weakened more - hitting a peak of 122.6 by 1330 GMT compared with a high of 122.58 on Jan. 24. At 1448 GMT, the index stood at 122.40.

The bank said in a statement on Jan. 24 it had sold about two billion

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Geoeconomic reserve management

The world order is evolving. Whether, and how, the international economy remains integrated or shifts into spheres of influence has consequences for central bank policy and reserve management.

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