Iceland: Currency auctions resumed
Reference
The Central Bank of Iceland (CBI) is pursuing its auction program of regular purchases of foreign currency.
This is further to our Marketflash M13011, dated 15 February 2013.
The next auctions, designed to encourage long-term investment in the Icelandic economy, are scheduled for Thursday 4 February 2014, consisting of the following CBI offers:
- To purchase Euros in exchange for Icelandic Krónur (ISK) for long-term investment in the Icelandic economy;
- To purchase Euros in exchange for payment in Treasury bond series RIKS 33 0321;
- To sell Icelandic Krónur for cash payment in foreign currency.
The three auctions, which are scheduled for Tuesday 4 February 2014, are an element in the removal of restrictions on movement of capital as set forth in the Bank’s capital account liberalisation strategy of 25 March 2011, and in the Bank’s Terms of foreign exchange transactions according to the Investment Programme for capital account liberalisation, dated 18 November 2011, with subsequent amendments.
The next auction offer has been announced for 18 March 2014.
Further information can be obtained from the terms of auction, from http://www.cb.is/ under publications or http://www.sedlabanki.is/ or from Mr Már Guðmundsson, Governor of the CBI, at telephone: +354 569-9600.
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