Norway to refrain from fx buying for wealth fund in January

OSLO Mon Dec 30, 2013 4:02am EST

Related Topics

OSLO Dec 30 (Reuters) - Norway's central bank will not sell Norwegian crowns in January to buy foreign exchange for the country's sovereign wealth fund, the bank said on Monday on its page, extending its December practice.

Last month the central bank said it would refrain from buying foreign exchange that would have enabled the fund to invest money in foreign stocks and bonds.

The fund invests Norway's revenues from oil and gas production for future generations. It is the world's largest sovereign wealth fund.

The Nordic country is the world's seventh biggest oil exporter and Western Europe's leading gas exporter. (Reporting by Oslo newsroom)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.