30 November 2020

Central Bank to continue programme of regular foreign currency sales

From Tuesday 1 December through the end of the month, the Central Bank of Iceland will sell 3 million euros per day to market makers in the interbank market for foreign exchange, for a total of 66 million euros during the month. The transactions will take place soon after the market opens in the morning, and no later than 10:00 hrs. They will be conducted in accordance with Press Release no. 30/2020, issued on 9 September 2020.

The Bank began selling currency to market makers on a regular basis on 14 September, with the objective of deepening the market and improving price formation. The Bank sold a total of 63 million euros in this manner during the month of November. From 14 September to date, the Bank has sold a total of 168 million euros under the regular sales programme.

Regular currency sales do not affect the Bank’s declared policy of intervening in the foreign exchange market in order to mitigate volatility when it considers such intervention warranted.

Further information can be obtained from Ásgeir Jónsson, Governor of the Central Bank of Iceland, at tel: +354 569-9600.

Press release no. 42/2020
30 November 2020