The National Bank of Denmark released its November 2025 foreign-exchange and liquidity statistics and monthly balance sheet, showing that the foreign-exchange reserve declined to DKK 659.7 billion and that banks’ and mortgage-credit institutes’ net position with the central bank fell to DKK 304.8 billion. Policy rates were unchanged. The DKK 15.8 billion fall in the foreign-exchange reserve reflected net foreign-exchange sales of DKK 4.7 billion and the central government’s net repayment of foreign debt of DKK 11.1 billion, and the central bank did not intervene in the foreign-exchange market for settlement in November. The central government’s net financing requirement was DKK -43.5 billion in November (DKK -15.4 billion year-to-date), and its liquidity impact reduced the banks’ net position by DKK 11.3 billion, contributing to an overall monthly decline of DKK 4.5 billion. Since 6 June 2025, the discount rate, current-account interest rate and rate on certificates of deposit have been 1.6% per annum, while the lending rate has been 1.75%. The balance sheet as at 30 November 2025 showed total assets of DKK 706.7 billion, including foreign assets of DKK 566.1 billion, funded mainly by monetary-policy deposits of DKK 304.8 billion and central government deposits of DKK 187.3 billion.
National Bank of Denmark 2025-12-02
National Bank of Denmark reports foreign-exchange reserve fell DKK 15.8 billion to DKK 659.7 billion in November 2025
The National Bank of Denmark's November 2025 data shows a decline in the foreign-exchange reserve to DKK 659.7 billion and a decrease in banks’ and mortgage-credit institutes’ net position with the central bank to DKK 304.8 billion, with policy rates unchanged since June 2025. The reserve drop was due to net foreign-exchange sales and the central government's net repayment of foreign debt, while the central government's liquidity impact reduced banks' net position by DKK 11.3 billion.