The National Bank of Denmark published its March 2026 foreign-exchange, liquidity and monthly balance-sheet figures, showing the foreign-exchange reserve decreased by DKK 0.5 billion to DKK 686.8 billion. The change reflected a net sale of foreign exchange of DKK 0.8 billion and the central government’s net foreign borrowing of DKK 0.4 billion, with no foreign-exchange market intervention for settlement in March. Liquidity data showed the central government’s net financing requirement was DKK -47.3 billion in March (DKK -69.2 billion year-to-date), while the net position of banks and mortgage-credit institutes vis-à-vis the central bank fell by DKK 46.3 billion to DKK 276.9 billion, mainly due to a DKK -46.4 billion liquidity impact from the central government. Policy rates were unchanged from 6 June 2025, with the discount rate and current-account rate at 1.6% p.a., the lending rate at 1.75% p.a. and the certificates of deposit rate at 1.6% p.a.; the balance sheet showed monetary-policy deposits of DKK 276.9 billion at end-March versus DKK 323.2 billion at end-February and central government deposits of DKK 227.6 billion versus DKK 180.9 billion.
National Bank of Denmark 2026-04-07
National Bank of Denmark reports March 2026 foreign-exchange reserve down to DKK 686.8 billion and banks’ net position down to DKK 276.9 billion
The National Bank of Denmark’s March 2026 data show foreign-exchange reserves fell DKK 0.5 billion to DKK 686.8 billion, driven by net FX sales and central government net foreign borrowing, with no FX market intervention. Liquidity figures showed a central government net financing requirement of DKK -47.3 billion and a DKK 46.3 billion drop in banks’ and mortgage-credit institutes’ net position vis-à-vis the central bank to DKK 276.9 billion, mainly due to central government liquidity effects. Policy rates have been unchanged since June 2025, with the balance sheet showing lower monetary-policy deposits and higher central government deposits at end-March.