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Norway to refrain from forex buying for wealth fund in July
June 30, 2014 / 8:07 AM / in 3 years

Norway to refrain from forex buying for wealth fund in July

OSLO, June 30 (Reuters) - Norway’s central bank will not sell Norwegian crowns in July to buy foreign exchange for the country’s sovereign wealth fund, the bank said on Monday on its page, in line with its practice in recent months.

The bank earlier said it did not expect to buy any foreign currency over the coming months and it could even buy crowns later in the year.

The fund uses the proceeds of a sale to invest in stocks, bonds and property abroad. It is the world’s largest sovereign wealth fund. (Reporting by Oslo newsroom)

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