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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation, Investment

Norway won’t buy foreign currency for wealth fund next month

Posted on 01 November 2012

Norway’s central bank said it won’t buy any foreign currency for its $650 billion sovereign wealth fund next month amid changes in the nation’s strategy to hedge against overheating.
The decision sent the krone higher, and Norway’s currency rose as much as 0.7 percent against the euro to trade at 7.3961 as of 12:26 p.m. in Oslo. Versus the dollar, the krone soared as much as 1 percent to trade at 5.6818. The gains made the krone today’s best-performing major currency against the euro, the dollar and the yen………………………………………..Full Article: Source


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