Denmark's FX reserves fall to 464.1bn DKK at end-March

COPENHAGEN: Denmark's foreign exchange reserves fell to 464.1 billion Danish crowns ($66.48 billion) in March from 466.6 billion crowns at the end of February. Analysts polled by Reuters had expected the reserves to increase to 470.0 billion by end-March.

The central bank intervened in the foreign exchange market by selling 5.6 billion crowns in March to keep the currency stable against the euro, it said.

The central bank use the foreign exchange reserves as a tool to control the rate of the Danish crown, which is pegged to the euro, by buying or selling.