September 30, 2013 / 8:06 AM / 4 years ago

Norway cbank to sell NOK 100 mln a day for oil fund in Oct

OSLO, Sept 30 (Reuters) - Norway’s central bank will sell 100 million crowns ($16.67 million) a day in October to buy foreign currency for the country’s $780 billion sovereign wealth fund, the same amount it sold in September, the bank on its page on Monday.

The fund, the world’s biggest sovereign wealth fund, invests Norway’s revenues from oil and gas production for future generations, buying bonds, stocks and real estate around the world.

The bank, which manages the fund, received Norway’s surplus tax revenues from the government and converts it to various currencies based on its investment needs.

The Nordic country is the world’s seventh-biggest oil exporter and Western Europe’s leading gas exporter. ($1 = 5.9984 Norwegian krones) (Reporting by Balazs Koranyi)

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