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Sovereign Wealth Funds Briefing - Categorized | Market, Reserve Currencies

Norway to sell NOK 500 mln daily in Sept for SWF

Posted on 01 September 2011

Norway’s central bank will make daily sales of 500 million Norwegian crowns ($93.1 million) in September to buy foreign currency for the country’s oil fund, the bank said on Wednesday, expanding its August practice. Last month the central bank said it would buy foreign exchange equivalent to 400 million crowns a day so the fund could invest money in foreign stocks and bonds.
Norges Bank manages Norway’s $549 billionGovernment 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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