European Central Banks Active In Replenishing FX Reserves Months After ERM Turmoil
REGULATORS
More than ten European central banks have been sighted during the past several weeks buying back Deutsche marks to repay, replenish and augment reserves affected by the currency turmoil of last fall, according to market sources.
Although central banks typically enter the open market to defend currency targets, market sources say the latest series of appearances are aimed at refilling coffers depleted during last fall's currency crisis.
"There are rumors that a good deal of central bank business
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