Norges Bank's exchange-market instruments

Norges Bank's transactions in the foreign exchange market have since 10 January 1997 been confined to regular purchases of foreign exchange for the equivalent of about NOK 3 billion per month for the Government Petroleum Fund, see press release of 20 February 1997.

In the light of developments in the foreign exchange market, Norges Bank no longer finds it appropriate to maintain special limitations on the use of instruments for the purpose of exchange rate management.

Any foreign exchange interventions will normally be undertaken with a view to curbing short-term fluctuations in the value of the Norwegian krone and will thus be on a limited scale.