01.07.2011 - Norges Bank to buy NOK400mln in forex a day in Jul for oil fund
Norway's central bank said Thursday it will buy foreign exchange worth 400 million Norwegian kroner ($74.5 million) a day in July for the Government Pension Fund Global, the same amount it purchased on a daily basis in June. Norges Bank manages Norway's Pension Fund Global, also known as the oil fund, which according to a report from consulting firm Monitor Group from early June, is the world's largest sovereign wealth fund. The oil fund was set up in 1990 to safeguard Norway's oil wealth for future generations and has a market value of more than $500 billion..............................................Full Article: Source
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