The Riksbank reallocates its gold and foreign currency reserves

Date 18/01/2005

The Riksbank has up to the present date sold a total of fifteen (15) tonnes of gold under the renewed Central Bank Gold Agreement (CBGA), established between fifteen European central banks. The renewed agreement came into force on 27 September 2004 and runs for five years. It allows the Riksbank to sell up to 60 tonnes of gold during this five-year period.

The proceeds from the sale have been reinvested in the Bank’s foreign currency reserves, i.e. in foreign currency securities.

The reduction of the gold holdings will enable the Riksbank to achieve higher risk-adjusted returns on its assets. However, gold will continue to be an important asset on the Bank’s balance sheet in the future.

After this reallocation, the gold holdings at the Riksbank amount to approximately 170 tonnes, which corresponds to around 10% of the value of the gold and foreign currency reserves.