The National Bank of Denmark published its monthly update on the foreign-exchange reserve and liquidity, reporting that the reserve fell by DKK 1.2 billion to DKK 655.9 billion in March 2025. The decrease reflected the Bank’s net sale of foreign exchange of DKK 0.5 billion and the central government’s net repayment of foreign debt of DKK 0.7 billion; no foreign-exchange market intervention was conducted for settlement in March. For January–March 2025, the foreign-exchange reserve increased by DKK 1.4 billion, alongside Danmarks Nationalbank net foreign-exchange purchases of DKK -0.1 billion and central government net foreign borrowing of DKK 1.5 billion. On liquidity, the central government’s net financing requirement was DKK -47.4 billion in March (DKK -69.7 billion year to date), and the net position of banks and mortgage-credit institutes vis-à-vis Danmarks Nationalbank fell by DKK 40.1 billion to DKK 196.9 billion, largely reflecting a DKK 41.0 billion liquidity impact from the government. The release also reiterated policy rates unchanged since 7 March 2025 and published a balance-sheet total of DKK 749.5 billion at 31 March 2025, including foreign assets of DKK 566.9 billion and monetary-policy lending of DKK 42.5 billion.
National Bank of Denmark 2025-04-02
National Bank of Denmark reports DKK 1.2 billion decline in the foreign-exchange reserve to DKK 655.9 billion in March 2025
The National Bank of Denmark reported a DKK 1.2 billion decrease in the foreign-exchange reserve to DKK 655.9 billion in March 2025, driven by net foreign-exchange sales and government debt repayment. The central government's net financing requirement was DKK -47.4 billion, with banks' net position falling by DKK 40.1 billion due to government liquidity impacts. Policy rates remained unchanged since 7 March 2025, with a balance-sheet total of DKK 749.5 billion.