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Norway to refrain from fx buying for wealth fund in June
May 30, 2014 / 8:08 AM / 4 years ago

Norway to refrain from fx buying for wealth fund in June

OSLO, May 30 (Reuters) - Norway’s central bank will not sell Norwegian crowns in June to buy foreign exchange for the country’s sovereign wealth fund, the bank said on Friday on its page, in line with its practice in recent months.

The bank earlier said it did not expect to buy any foreign currency over the coming months and that it could even buy crowns later in the year.

The fund uses the proceeds of a sale to invest in stocks, bonds and property abroad. It is the world’s largest sovereign wealth fund. (Reporting by Oslo newsroom, editing by Terje Solsvik)

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