The following table shows the Central Bank of Iceland's Balance Sheet as at the end of February 2004 with comparative figures for the end of January 2004 and end of December 2003.
The Central Bank's foreign reserves increased in February by 0.9 b.kr. and amounted to 57.3 b.kr. at the end of the month (equivalent to 822 m. US dollars at the exchange rate at the end of the month).
In February, the Central Bank purchased currency in the domestic interbank market for 1.4 b.kr., which is consistent with the measures to strengthen its external position as described inter alia in the November 2003 issue of the Bank's Monetary Bulletin.
The Icelandic króna weakened by 0.3% in February.
Central Bank claims on deposit money banks decreased by 5.1 b.kr. in February and amounted to 36.9 b.kr. at the end of the month. Claims on other financial institutions rose by 2.8 b.kr. and stood at 7.5 b.kr. at the end of the month.
Market value of listed securities in the Bank's portfolio was 3.9 b.kr. at the end of February. Of this figure, listed Treasury securities amounted to 0.7 b.kr.
Net claims on central government decreased by 1 b.kr. in February and the Treasury's net deposit at the end of the month stood at 29 b.kr.
Base money decreased by 1.4 b.kr. during the month and amounted to 31 b.kr. at the end of February.
For further information, contact the Governors of the Central Bank of Iceland or Erla Árnadóttir, Chief Accountant, tel. (+354) 569-9600.
No. 6/2004
March 5, 2004