The volume sold within just over one month totalled 275 billion kroner – corresponding to 37 billion euros. It resulted in the sharp increase of the foreign-exchange reserves as you can see on the slide. During the hours after the interest-rate decision I spoke with a lot of media outlets.
Again and again I told the journalists that we had unlimited amounts of kroner available and we could let the currency reserves grow indefinitely. It is an option that we could use and it was unlimited since the interest differential between DKK and euro resulted in net profit on the currency reserves. … And the communication worked as intended.