Norway to Purchase NOK 350 Million Daily in Foreign Exchange for GPFG in March
Money is flowing into the Norwegian Government’s coffers as energy prices rise. Norway is the eighth largest oil exporter on the globe and has generated wealth for its citizens through its mega sovereign fund. The sovereign wealth fund is the largest in Europe.
The Norwegian Ministry of Finance regulates the amount of the monthly allocations to the sovereign fund. Norges Bank will continue to purchase foreign exchange equivalent to 350 million Norwegian crowns (US$ 62.7 million) per day in March for Norway’s Government Pension Fund Global (GPFG). This is following its continued practice in February.
Daily purchases in millions of NOK
Source: Norges Bank
Contact the writer or creator of this article or page.
Questions or comments: support(at)swfinstitute(dot)org
Follow on Twitter at @swfinstitute and @sovereignfunds
Learn, Attend and Network: Institutional Investor Events and Summits
Go Back: HOME: Sovereign Wealth Fund Institute