Results of auctions for purchase of euros and Icelandic krónur
On 14 March 2012, the Central Bank of Iceland offered to purchase euros in exchange for Icelandic krónur for long-term investment in the Icelandic economy, or in exchange for payment in Treasury bond series RIKS 33 0321. The Bank also advertised for bids on the sale of Icelandic krónur for cash payment in foreign currency. The two euro purchase auctions took place between 9:45 hrs. and 10:45 hrs. today, and the ISK purchase auction was held between 13:00 hrs. and 14:00 hrs. The auctions were an element in the removal of restrictions on movement of capital as set forth in the Central Bank’s capital account liberalisation strategy, published on 25 March 2011. Further information can be found in the Central Bank of Iceland Terms of foreign exchange transactions according to the Investment Programme for capital account liberalisation, with subsequent amendments, dated 18 November 2011.
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Indication of possible minimum price
According to Article 4 of the Terms of Auction for the Central Bank of Iceland’s purchase of Icelandic krónur in exchange for foreign currency in the auction to be held today between 13:00 hrs. and 14:00 hrs., an indication of the possible minimum price in the auction will be published on the websites of the Central Bank and the market makers in the interbank foreign exchange market one-and-a-half hours prior to the auction. The possible minimum price indicated therein is 255 kr. per EUR.
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Indication of possible minimum price
According to Article 4 of the Terms of Auction for the Central Bank of Iceland’s purchase of Icelandic krónur in exchange for foreign currency in the auction to be held today between 13:00 hrs. and 14:00 hrs., an indication of the possible minimum price in the auction will be published on the websites of the Central Bank and the market makers in the interbank foreign exchange market one-and-a-half hours prior to the auction. The possible minimum price indicated therein is 255 kr. per EUR.
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The Capital Controls Surveillance Unit of the Central Bank conducts search of premises
The Capital Controls Surveillance Unit of the Central Bank of Iceland, with the assistance of the Office of the Special Prosecutor, carried out a search at the offices of Samherji hf. in Reykjavík and Akureyri this morning. The search was conducted in connection with the Central Bank’s legally mandated investigative role, based on the authority contained in the Foreign Exchange Act, no. 87/1992, due to suspicion of violations of the Act.
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Statement of the Monetary Policy Committee 21 March 2012
The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to raise the Bank’s interest rates by 0.25 percentage points.
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