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Sovereign Wealth Funds Briefing - Categorized | Financials, Reserve Currencies

Norway to sell 200 mln crowns daily in July for wealth fund

Posted on 01 July 2013

Norway’s central bank will sell 200 million Norwegian crowns ($32.96 million) a day in July to buy foreign currency for its $720 billion sovereign wealth fund, unchanged from its June policy, it said on Friday.
The fund, commonly known as the oil fund, invests Norway’s revenues from oil and gas production for future generations. It is the world’s largest sovereign wealth fund. The Nordic country is the world’s seventh-biggest oil exporter and Western Europe’s top gas exporter…………………………………Full Article: Source


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