Danish December Foreign Currency Reserves Rose to $84.5 Billion
January 05, 2012, 6:38 AM ESTBy Christian Wienberg
Jan. 3 (Bloomberg) -- Denmark’s foreign currency reserves rose to 481.7 billion kroner ($84.5 billion) at the end of December, compared with a median estimate of 477.7 billion kroner in a Bloomberg survey of three economists.
Reserves increased by 14 billion kroner from a month earlier, the Copenhagen-based central bank said today in a statement.
The central bank cut its benchmark interest rate twice last month to protect the krone’s peg to the euro as investors fled indebted euro-are economies and bought Danish assets. The bank said today it made a net purchase of foreign currency of 17.8 billion kroner in December, due to interventions.
Link to Statement:{NSN LX89O33HHEDC <GO>}
To contact the editor responsible for this story: Christian Wienberg at cwienberg@bloomberg.net
