The following table shows the Central Bank of Iceland's Balance Sheet as at the end of May 2004 with comparative figures for the end of April 2004 and end of December 2003.
The Central Bank's foreign reserves increased in May by 0.2 b.kr. and amounted to 65.8 b.kr. at the end of the month (equivalent to 922 m. US dollars at the exchange rate at the end of the month). In May, the Central Bank 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.
The Icelandic króna strengthened by 1.1% in May.
Central Bank claims on deposit money banks decreased by 14.6 b.kr. in May and amounted to 22.2 b.kr. at the end of the month. Claims on other financial institutions increased by 0.5 b.kr. and stood at 5.3 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 May.
Net claims on central government decreased by 0.5 b.kr. in May and the Treasury's net deposit at the end of the month stood at 28.9 b.kr.
Base money decreased by 11.9 b.kr. during the month and amounted to 22.1 b.kr. at the end of May.
For further information, contact the Governors of the Central Bank of Iceland or Erla Árnadóttir, Chief Accountant, tel. (+354) 569-9600.
No. 16/2004
June 4, 2004