Norges Bank to Buy Foreign Currency for the First Time Since 2013 Due to Rising Oil Prices

Posted on 03/31/2022

Norges Bank plans to buy foreign currency for Norway Government Pension Fund Global (GPFG) in April 2022. This is the first time the central bank has done so in nearly nine years. Norges Bank will purchase foreign exchange on behalf of the government equivalent to NOK 2,000 million per day (US$ 231,972,000) in April 2022.…

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