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Norway to refrain from fx buying in Oct -c.bank
OSLO, Sept 30 |
OSLO, Sept 30 (Reuters) - Norway's central bank will not sell Norwegian crowns in October to buy foreign exchange for the country's oil fund after refraining from selling crowns also in September, the bank said on Wednesday.
The central bank manages Norway's $400 billion-plus Government Pension Fund -- Global which invests surplus oil wealth to save for the future when the oil and gas run out.
The bank sells Norwegian currency to invest the fund's money in foreign stocks and bonds. It is one of the world's biggest sovereign wealth funds and Europe's largest equity investor.
Norway is the world's sixth biggest oil exporter and Western Europe's leading gas exporter.
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