A recent press notice concerning official holdings of international reserves from HM Treasury and the ONS shows that in December 2010 the UK Government's net foreign currency reserves stood at $38,366m, up $976m. Gross reserves were up $2,836m to $78,801m. The Bank of England's net level of reserves were up $18m to $2m and the gross level of holdings was up $2,890m to $27,500m.
There were no intervention operations in December 2010 to support sterling by the Government of by the Bank of England to support their monetary policy objectives.
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