Home Latest News Denmark’s cbank says earned 2 bln DKK on crown pressure in 2015

Denmark’s cbank says earned 2 bln DKK on crown pressure in 2015

by Lakshay

Denmark’s central bank made a profit of just over 2 billion Danish crowns ($297.5 million) in 2015, partly due movements in the crown, it said on Wednesday.

Crowns were repurchased by the bank at a marginally lower exchange rate as investor interest in the Danish currency saw a decline. That small difference gave the central bank a profit of 0.8 billion crowns, it said.

According to the bank’s quarterly monetary review, Denmark also lowered its deposit of certificate rates to -0.75 per cent, resulting in substantial interest income.

This generated excess earnings of almost 1.5 billion crowns, it said.

Important
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Related News

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Know more