03.09.2015 - What's behind Denmark's big currency surprise
Remember the start of this year, when the Danish central bank was slashing interest rates and buying foreign currencies on a huge scale to stop the krone from climbing too far and keep its peg with the euro in place? Now it's dumping foreign currencies to prop the krone up. Fun times. In a monthy statement on its balance sheet, the Nordic central bank said it intervened with foreign currency sales to the tune of 48.1bn kroner ($7.24bn) in August, writes Katie Martin. Economists had been expecting a decline in reserves of 25bn kroner - nothing on this scale...............................................Full Article: Source
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