OSLO Dec 30 Norway's central bank will increase
its daily sale of foreign currency in January, it said on
The bank will sell foreign exchange equivalent to 1.0
billion Norwegian crowns per day, an increase from a level of
900 million crowns per day since February of 2016.
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.
In December it only trades for the first half of the month
to avoid year-end market volatility.
More details on how and why the central bank trades currency
can be seen here: bit.ly/2iIfmLq
(Reporting by Terje Solsvik)