World Economy

Danish Currency Stabilizing

Danish Currency StabilizingDanish Currency Stabilizing

Following weeks of volatility caused by the European Central Bank’s stimulus efforts, the Danish krone is now showing signs of stabilization, NewEurope reported. Denmark’s central bank decided not to intervene in the foreign-exchange market in March. As reported by the Wall Street Journal, the Danish central bank has been battling to stabilize the exchange rate, when the ECB announced a vast program of bond purchases intended to bring economic growth that sent the euro plummeting against other currencies. On April 7, the Nationalbanken, the Danish central bank, said its foreign-exchange reserves remained at 737.1b kroner ($104b), an elevated level, after it sold a record amount of its own currency in January and February to weaken it.