July 29, 2016 / 8:16 AM / a year ago

Norway to sell NOK 900 mln of FX per day in August

OSLO, July 29 (Reuters) - Norway's central bank will sell foreign exchange equivalent of 900 million Norwegian crowns per day in August, the same amount as in July, the bank said on Friday.

The bank is selling the currency because the government's transfers to its sovereign wealth fund have been smaller than earlier expected and the national budget is using more of the country's oil-related income.

The bank made its first purchase of crowns in October 2014 to cover the government's non-oil-related budget deficit. (Reporting by Oslo newsroom)

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