Iceland resurrects active FX purchase programme
Central bank to buy €6 million a week to ensure sufficient liquidity
The Central Bank of Iceland today bought €3 million ($3.39 million), in the first of the regular foreign exchange purchases it pledged to make on April 10.
The bank said it was looking to increase the share of reserves financed in króna and meet the treasury’s need for foreign currency.
It plans to purchase €6 million a week in €3 million tranches on Tuesday and Thursday mornings. It said the programme would not materially affect the króna’s exchange rate.
“Abundant reserves have played an
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 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
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
More on Foreign Exchange
No more FX regime change in Argentina, BCRA governor says
Current policy will naturally move country towards free-floating exchange rate, Bausili explains
Central banks shore up reserves against fallout from tariffs
Officials prepare to protect FDI and conduct FX interventions, Reserve Management Trends survey finds
Indonesia to ‘aggressively’ shore up currency amid tariffs
Central bank will intervene in FX market once it re-opens following week-long holiday
Bank Indonesia ready to stabilise currency, official says
Central bank could intervene in FX market again after rupiah almost hit record low
Financial market infrastructure services: Nasdaq
Nasdaq has added a monetary operations portal to its cloud-based reserves services as part of its growing integrated suite
FX interventions ‘excessive’, says RBI’s former regional head
India’s central bank nevertheless claims its actions to prop up rupee have been effective
Finland’s hedge against FX risk ‘not motivated by US tariffs’
Central bank’s head of reserves says decision was part of regular review
Foreign policy impact on future FX reserves composition
Restrictive covenants in global financial safety net system drive fragmentation, while CBDCs and digital petroyuan may alter FX reserve investments