March 31, 2014 / 8:07 AM / 4 years ago

Norway cbank won't buy foreign currency for oil find in April

OSLO, March 31 (Reuters) - Norway’s central bank will not purchase any foreign currency for the country’s sovereign wealth fund in April, the bank said on Monday on its page, in line with its practice over the past several months.

The fund, the world’s largest sovereign wealth fund, invests Norway’s saved up wealth from oil and gas production for future generations.

The central bank, which manages the fund, frequently converts surplus tax revenues into foreign currency to buy stocks, bonds and real estate. However, it has made no currency purchases since the end of October.

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

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