The following table shows the Central Bank of Iceland's Balance Sheet as
at the end of April 2004 with comparative figures for the end of March 2004 and
end of December 2003.
The Central Bank's foreign reserves decreased in
April by 1 b.kr. and amounted to 65.6 b.kr. at the end of the month (equivalent
to 892 m. US dollars at the exchange rate at the end of the month).
Under a currency swap agreement made in January, the Central Bank
purchased US dollars to the equivalent of 7.2 b.kr. from a market maker in the
FX market (cf. Press release of February 5).
In April, the Central Bank
also purchased currency in the domestic interbank market for 1.5 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. Other
changes in the foreign reserves in April are explained by Treasury loan
movements.
The Icelandic króna weakened by 0.1% in April.
Central
Bank claims on deposit money banks decreased by 5.4 b.kr. in April and amounted
to 36.8 b.kr. at the end of the month. Claims on other financial institutions
decreased by 0.1 b.kr. and stood at 4.8 b.kr. at the end of the month.
Market value of listed securities in the Bank's portfolio was 3.2 b.kr.
at the end of April. The reduction in Treasury securities is explained by
redemptions during the month.
Net claims on central government decreased
by 13.7 b.kr. in April and the Treasury's net deposit at the end of the month
stood at 29.4 b.kr.
Base money increased by 7.6 b.kr. during the month
and amounted to 34 b.kr. at the end of April.
For further
information, contact the Governors of the Central Bank of Iceland or Erla
Árnadóttir, Chief Accountant, tel. (+354) 569-9600.
Press release with table (pdf-45kb)
No. 10/2004
May 6, 2004