March 28, 2018 / 8:06 AM / 4 months ago

Norway to sell NOK 800 mln of FX per day in April

OSLO, March 28 (Reuters) - Norway’s central bank will sell foreign exchange equivalent of 800 million Norwegian crowns ($103.08 million) per day in April, unchanged from March, the bank 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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