Dáil Éireann Debate, Tuesday - 3 February 2015
247. Deputy Robert Dowds asked the Minister for Finance if he will provide figures, in tabular form, the currencies the financial reserves of the Central Bank of Ireland are denominated in; and if the recent major currency fluctuations have had any impact upon the Central Bank of Ireland's financial reserves. [4575/15]
View answerI have been informed by the Central Bank that as at 31 December 2014, the Central Bank held less than 1% of its total investment portfolio in foreign currencies. Given the low level of exposure to foreign currency and the Central Bank's hedging strategy, recent major currency fluctuations have not had a material impact on the Central Bank's financial reserves.
While the Question seeks currency figures in tabular form, the Central Bank does not disclose details of specific exposures within its own investment portfolio. The Central Bank is independent in the exercise of its functions and the management of its investment holdings is a matter for the Central Bank itself. Neither I nor the Department of Finance have any role in those matters.
Further information on the make-up of the Central Bank's investment portfolio is available from the Central Bank's Annual Report. The Annual Report for 2013 is available on the Central Bank website. The Annual Report for 2014 is due for publication in April 2015. The Annual Report is the normal channel through which the Central Bank comments on the make-up of its investment portfolio.
