Denmark – Feb 3

Denmark’s foreign exchange reserves have risen to 564.1 billion kroner (about $86.7 billion)—an increase of about 106 billion kroner, or $16 billion, in one month.  The previous monthly record was a mere 40 million kroner, during the financial crisis in 2008 and 2009.  The pressure on the Danish krone largely resulted from Switzerland’s central bank dropping its base rate to 1.20 Swiss francs per euro, a devaluation which occurred on January 15.  The Danish National Bank cut interest rates three times during the second part of the month. Source: Politiken