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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

Norges Bank to refrain from forex buying for oil fund in December

Posted on 01 December 2011

Norway’s central bank Thursday said it won’t sell Norwegian kroner in December to buy foreign exchange for the government’s pension fund. The announcement was expected, as the bank typically does not purchase foreign currency for the fund in December.
In November, Norges Bank bought NOK1.6 billion in foreign exchange a day for the Pension Fund Global, also known as Norway’s oil fund. Norges Bank manages the fund, which was set up in 1990 to safeguard Norway’s oil wealth for future generations………………………………………..Full Article: Source


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