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Norges Bank To Buy $95.6M FX For SWF
Norges Bank will acquire foreign currency worth $95.6 million per day in the month of October.
Norges Bankwill acquire foreign currency worth $95.6 million per day in the month of October,Reutersreports. The central bank of Norway will purchase the currency for the country’s oil-backed sovereign wealth fund.
The bank had earlier announced plans to daily purchase foreign exchange equal to $84.85 million for the fund. The fund, which is managed by Norges Bank, invests public oil revenues from the Norwegian continental shelf in foreign stocks and bonds.
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