National Bank of Denmark reports September foreign-exchange reserve down to DKK 678.6 billion

The National Bank of Denmark reported that Denmark’s foreign-exchange reserve fell by DKK 0.1 billion in September 2025 to DKK 678.6 billion, reflecting a net sale of foreign exchange of DKK 0.5 billion partly offset by the central government’s net foreign borrowing of DKK 0.4 billion. It reported no foreign-exchange market interventions for settlement in September. From January to September 2025, net foreign-exchange purchases totalled DKK 12.3 billion and the reserve increased by DKK 24.1 billion, alongside central government net foreign borrowing of DKK 11.8 billion. Liquidity data showed the central government’s net financing requirement was DKK -20.1 billion in September and DKK -46.8 billion year to date, while the net position of banks and mortgage-credit institutes vis-à-vis the National Bank of Denmark fell by DKK 17.2 billion in the month to DKK 235.0 billion, largely driven by a DKK 17.4 billion negative liquidity impact from the central government; policy rates were unchanged, with the discount rate and current-account rate at 1.6 percent per annum, the lending rate at 1.75 percent and the certificate-of-deposit rate at 1.6 percent.