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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

Norway c.bank will not buy any foreign currency for oil fund in Nov

Posted on 01 November 2013

Norway’s central bank will not sell any Norwegian crowns in November to buy foreign currency for the country’s $810 billion sovereign wealth fund, the bank said on Thursday, cutting its purchases from 100 million crowns a day in October.
Norway’s 2014 budget bill anticipates lower tax revenue transfers to the oil fund and analysts have said that the bank, which manages the fund, could reduce its purchases as early as November. The fund invests Norway’s revenues from oil and gas production for future generations. It is the world’s largest sovereign wealth fund…………………………….Full Article: Source


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