June 15, 2020 / 9:21 AM / 21 days ago

Iceland's cbank extends pension funds' FX purchase suspension

COPENHAGEN, June 15 (Reuters) - Iceland’s central bank has agreed with pension funds to halt their purchases of foreign currency for another three months, the bank said in a statement on Monday.

Icelandic pension funds suspended their purchases of foreign currency in March in response to declining export revenues caused by the COVID-19 pandemic and the downward pressure this could have on the country’s krona currency.

The central bank said the purchases would be suspended until Sept. 17. (Reporting by Nikolaj Skydsgaard; Editing by Alison Williams)

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