The following data are from the Central Bank of Iceland's Balance Sheet as at the end of November 2003 with comparative figures for the end of December 2002 and changes within the month and from the beginning of 2003.
The Central Bank's foreign reserves increased by 6.0 b.kr. and amounted to 57.7 b.kr. at the end of November (equivalent to 776 m. US dollars at the exchange rate at the end of the month). The Bank now has no foreign short-term liabilities in connection with its foreign reserves; at the beginning of the year these liabilities amounted to just over 16 b.kr.
In November, the Central Bank purchased currency in the domestic interbank market for 3.8 b.kr., which is consistent with the measures to strengthen its external position as described inter alia in the May 2003 issue of the Bank's Monetary Bulletin. The Icelandic króna strengthened by 0.38% in November.
Market value of listed securities in the Bank's portfolio was 3.9 b.kr. at the end of November. Of this figure, listed Treasury securities amounted to 0.7 b.kr.
Central Bank claims on deposit money banks decreased by 2.6 b.kr. in November and amounted to 41.7 b.kr. at the end of the month. Claims on other financial institutions remained virtually unchanged at 3.6 b.kr.
Net claims on central government decreased by 8.8 b.kr. in November and the Treasury's net deposit at the end of the month stood at 25.3 b.kr.
Base money decreased by 4.1 b.kr. during the month and amounted to 33.3 b.kr. at the end of November.
For further information, contact the Governors of the Central Bank of Iceland and Erla Árnadóttir, Chief Accountant, tel. (+354) 569-9600.
No. 29/2003
December 4, 2003