02.02.2015 - Norwegian Krone Strengthens on Central Bank Buying Plan
The Norwegian krone firmed against the euro Friday after the country’s central bank said it would increase the amount of kroner it will buy on behalf of its sovereign-wealth fund next month, as it seeks to match the currency inflows from the oil sector with the government’s spending needs. Norges Bank said it would sell the foreign exchange equivalent of 700 million kroner a day ($89.8 million) in February, which is the largest daily amount since the bank started buying kroner in this way last October...............................................Full Article: Source
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