Denmark's government has suspended its bond sales indefinitely in an attempt to counter unprecedented pressure on the country's exchange rate.

The move was announced by the National Bank of Denmark, which manages the government's debt auctions, after markets closed on Friday.

It follows the central bank's decision to cut its deposit rate to -0.5%, the third reduction in 11 days, as it seeks to discourage capital inflows.

Denmark saw inflows of DKK90–100 billion ($13.7–15.2 billion) in January, a