The net sale of the central bank of Iceland equals 2,5 billion króna last month which is roughly 40% of the total turnover of the market. The central bank has not sold this much currency in one month this year. This is in the morning corn of the analyzing department of Islandsbanki. In the recently published numbers of the central bank about the bank market for currency on the first half of the year was the total turnover of that market close to 6,2 billion króna in June.

This is the largest turnover in one month this year which is not surprising because of the large interest payments to foreigners this month.

The central bank has been quite large on the bank market with currency for the past few months. The currency sale of the bank has not harmed the currency purchases of others on the market despite the considerable remainder of the product and service trades in the first half of the year.

When the central bank pushes its weight on the currency market it usually sells around 250.000 euro to each of the three market makers, Islandsbanki, Landsbanki and Kaupthing. From that fact, net sale of the bank of currency and the midium rate of the euro against the króna every month may be roughly estimated the number of interventions of the bank each month.

With that method has the analyzing department calculated that the interventions of the central bank in June were 19. The  interventions in one month have never been asmany this year but despite the interventions has the króna weakened by 4% against the euro this month.

It is possible that the reason is the fast flow out because of the interest payments to foreigners. On the other hand was the remainder of trades large in June as well as the analyzing department thinks that the service trades have also created net currency flow in this month because of tourists to Iceland and large reductions of Icelanders taking trips abroad.

In total would this remainder as well as the interventions of the central bank have weighted against the flow out because of the interest payments and even more. It seems as there are considerable lack of control regarding the return duty of currency income.

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