BERLIN (MktNews) - The European Central Bank (ECB) foreign exchange market intervention last year totalled about E7 billion, according to calculations of Germany's business daily Handelsblatt.
The ECB has never announced the total amount of its four interventions in foreign exchange markets last year to prop up the euro. However, the Handelsblatt said that the central bank's 2000 accounts permit a "rough calculation."
After a concerted intervention of the G-7 central banks on September 22, the ECB undertook unilateral action in foreign exchange markets in November last year to prop up the euro.
An ECB spokesman said the report was "hypothetical." Other sources, however, said the calculation was not out of line with the ECB's activities.