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Sovereign Wealth Funds Briefing - Categorized | Financials, Market

Norway to sell $73.56 mln daily in June for SWF

Posted on 01 June 2011

Norway’s central bank will make daily sales of 400 million Norwegian crowns ($73.56 million) in June to buy foreign exchange for the country’s oil fund, the bank said on Tuesday, extending its May practice.
Last month the central bank sold 300 million crowns so the fund could invest money in foreign stocks and bonds. Norges Bank manages Norway’s 3.1 trillion Norwegian crown ($524 billion) Government Pension Fund Global, which invests surplus oil wealth to save for a future when the country’s oil and gas resources run dry……………………………………….Full Article: Source

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