January 31, 2018 / 9:06 AM / 25 days ago

Norway keeps crown purchases at NOK 900 mln per day in February

OSLO, Jan 31 (Reuters) - Norway’s central bank will keep its daily sale of foreign currency unchanged at 900 million Norwegian crowns in February, it said on Wednesday.

In order to make funds available to be spent as part of the government’s fiscal budget, Norges Bank exchanges currency earned from the country’s oil industry and its sovereign wealth fund into Norwegian crowns.

More details on how and why the central bank trades currency can be seen here: bit.ly/2iIfmLq (Reporting by Oslo newsroom)

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