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Home > Markets and Payments > Foreign currency reserves

Foreign currency reserves

The Bank operates in foreign exchange markets primarily for two reasons:

  1. Managing the UK's gold and foreign currency reserves on behalf of HM Treasury. See UK's Official Reserves.
  2. Managing the Monetary Policy Committee's smaller pool of foreign currency reserves. See Bank's Foreign Currency Reserves.

In addition, the Bank also conducts wholesale foreign currency transactions for government departments and a smaller number of its customers.