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About Danmarks Nationalbank

Foreign Exchange and Liquidity and Monthly Balance Sheet, August 2024

​In August 2024, the foreign-exchange reserve decreased by kr. 1.3 billion to kr. 638.7 billion.


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THE FOREIGN-EXCHANGE RESERVE

In August 2024, the foreign-exchange reserve decreased by kr. 1.3 billion to kr. 638.7 billion. The decrease reflects Danmarks Nationalbank's net sale of foreign exchange for kr. 1.0 billion, and the central government's net repayment of foreign debt for kr. 0.3 billion, cf. table 1.

For settlement in August, Danmarks Nationalbank has not intervened in the foreign exchange market.

Danmarks Nationalbank's net foreign-exchange purchases and the change in the foreign-exchange reserve - table 1

Kr. billionAugust 2024January 2024 - August 2024
Danmarks Nationalbank's interventions* to purchase foreign exchange, net0.00.0
Other**-1.011.6
Danmarks Nationalbank's net foreign-exchange purchases-1.011.6
The central government's net foreign borrowing***-0.31.2
Change in the foreign-exchange reserve-1.312.8

Note: Details may not add because of rounding and previously published figure may have been revised. All transactions as per settlement date.

* Intervention takes place when Danmarks Nationalbank purchases and sells foreign exchange for Danish kroner in the foreign-exchange market in order to stabilise the exchange rate.

** Comprises e.g. interest accrued on the foreign-exchange reserve, the central government's net payments in foreign exchange, and changes in the banks' deposits in euro-denominated accounts at Danmarks Nationalbank.

*** Including net payments to the central government in foreign exchange as a result of currency swaps.

DEVELOPMENT IN LIQUIDITY

In August, the central government's net financing requirement amounted to kr. -23.9 billion. Since the turn of the year, the central government's net financing requirement has been kr. -30.7 billion, cf. table 2.

The net position of the banks and mortgage-credit institutes vis-à-vis Danmarks Nationalbank decreased by kr. 26.8 billion in August, to an outstanding amount of kr. 262.2 billion. In August, the central government's liquidity impact decreased the net position by kr. 26.3 billion.

Impact of various factors on the net position of the banks and mortgage-credit institutes via-a-vis Danmarks Nationalbank - table 2

Kr. billionAugust 2024January 2024 - August 2024
The central government's net financing-23.9-30.7
Redemption on domestic central-government debt*5.533.0
Net bond purchases by the government funds and own portfolio and financing of social housing0.20.6
Other**0.10.5
The central government's gross domestic financing requirement-18.13.3
The central government's gross domestic borrowing***8.252.2
The central government's liquidity impact-26.3-48.9
Danmarks Nationalbank's net foreign-exchange purchases-1.011.6
Danmarks Nationalbank's net bond purchases0.0-0.6
Other factors****0.59.7
Change in net position-26.8-28.3

Note: Details may not add because of rounding and previously published figure may have been revised. All transactions as per settlement date.

* Including krone-denominated payments by the central government in currency swaps.

** Comprises foreign net financing requirement and changes in net collateral for the government’s swap portfolio.

*** Gross long-term borrowing, net short-term borrowing and krone-denominated payments to the central government in currency swaps.

**** Comprises e.g. changes in banknotes and coins in circulation.

DANMARKS NATIONALBANK'S INTEREST RATES

Since 7 June 2024 the discount rate has been 3,35 pct. p.a., since 7 June 2024 the current-account interest rate has been 3,35 pct. p.a., since 7 June 2024 the lending rate has been 3,50 pct. p.a. and since 7 June 2024 the rate of interest on certificates of deposit has been 3,35 pct. p.a.

Enquiries can be directed to press advisor Teis Hald Jensen on tel. +45 3363 6066.

BALANCE SHEET OF DANMARKS NATIONALBANK 31 AUGUST 2024

Assets 2024 2024
1000 kr.31/0831/07
Stock of gold29,762,72429,762,724
Foreign assets555,237,987556,034,166
Claims on the International Monetary Fund56,612,02356,620,643
Claims related to banks' and mortgage credit institutes' TARGET accounts in ECB22,27220,454
Monetary-policy lending00
Other lending1,255,2101,378,398
- Banks'1)1,255,2101,378,398
- Miscellaneous loans00
Domestic bonds32,423,16932,455,504
Financial fixed assets, etc.131,679131,679
Tangible and intangible fixed assets641,840643,847
Other assets2,704,7952,612,413
678,791,699679,659,828

1) Other lending to banks include loans for cash deposits.

Liabilities 2024 2024
1000 kr.31/0831/07
Banknotes51,683,14152,473,164
Coins6,137,5116,141,301
Monetary-policy deposits262,201,188288,986,916
- Current accounts262,201,188288,986,916
- Certificates of deposit00
Other deposits15,010,27015,211,228
- Deposits related to banks' and mortgage credit institutes' TARGET accounts in ECB22,27220,454
- Other deposits from banks' and mortgage credit institutes'1,337,5161,494,576
- Miscellaneous deposits13,650,48213,696,198
Central government210,501,428184,564,124
Foreign liabilities2,951,0862,442,290
Counterpart of Special Drawing Rights allocated by the IMF (SDR)43,743,94543,743,945
Other liabilities2,856,1502,389,880
Capital and reserves83,706,98083,706,980
678,791,699679,659,828

Note: The monthly balance sheet is calculated at beginning of year values +/- accumulated transaction values. The monthly balance does not include value adjustments and accruals, as these are only calculated at year-end, cf. Danmarks Nationalbank's accounting principles.