Posts Tagged ‘danish krone’

Denmark Dumped $750 million in Kroner Hours after Brexit

Wednesday, June 29th, 2016

Scandinavia’s biggest bank estimates Denmark sold almost $750 million in kroner to weaken the currency after it became clear early on Friday (June 24) that Britons had voted to leave the European Union.

The flight into safe-haven markets triggered by Brexit drove the krone to its strongest level against the euro in more than a decade, forcing the central bank to intervene to defend its currency peg.

The bank probably sold about 5 billion kroner ($744 million) on Friday (June 24), according to Jan Stoerup Nielsen, a senior analyst at Nordea in Copenhagen. That follows a resumption of interventions to weaken the krone in May for the first time since February last year, when Denmark’s euro peg was under a speculative attack. Interventions in May reached 23.6 billion kroner.


Low activity by the Danish centralbank

Tuesday, July 13th, 2010

Nationalbanken, Denmark’s centralbank, released info about their currency reserve yesterday. And it’s clear that there have not been much action by the Danish centralbank.

It apprears the currency reserve descreased 2.2 million DKK to 438.4 million DKK. The new balance is a result of sold Danish currency for 1 million DKK and a foreign loan for 1.2 million DKK.

There was no interventions by the Nationalbank in June.