Finland’s hedge against FX risk ‘not motivated by US tariffs’
Central bank’s head of reserves says decision was part of regular review
The Bank of Finland’s head of reserves, Tuomas Valimaki, says selling “about 10%” of its gold holdings last month to finance the purchase of around €2 billion ($2.06 billion) of foreign currency was nothing out of the ordinary.
The purchase, which the bank announced on December 19, increased the bank’s foreign exchange reserves to “about €9 billion”, he tells Central Banking. It also reduced it gold holdings to about 44 tonnes, or €3.5 billion.
The bank said at the time that it had mainly
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