Norges Bank to Hold Off on FX Reserve Purchases

Posted on 01/01/2014

Norges Bank, which manages Norway’s Government Pension Fund Global (GPFG), will not be making foreign exchange (FX) purchases in January 2014. Norges Bank is slated with the task of maintaining FX reserves. It does this by collecting North Sea oil revenues denominated in foreign currencies and FX purchase on the market into a common fund […]