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Norway to refrain from fx buying for wealth fund in January
December 30, 2013 / 9:07 AM / 4 years ago

Norway to refrain from fx buying for wealth fund in January

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)

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