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Foreign exchange purchases for GPFG

The Government Pension Fund Global (GPFG) is built up through transfer of foreign exchange income from the State’s Direct Financial Interest in Petroleum Activities (SDFI) and through Norges Bank’s purchases of foreign exchange in the market. The Ministry of Finance stipulates the monthly allocation to the GPFG.

If there is a need for Norges Bank to purchase foreign exchange in excess of the transfer from SDFI, Norges Bank purchases the balance of the foreign exchange in the market.

Daily foreign exchange purchases are then fixed for a month at a time, and are announced in a press release on the final working day of the previous month. The actual transfers may differ from the estimates. Adjustments are made for any differences when foreign exchange purchases are made for the following month. As a result, Norges Bank’s foreign exchange purchases may vary somewhat from month to month.

Daily purchases in millions of NOK:

 

2010

 2011 2012
January 0 0  350
February 0 0  350
March 0 0  350
April 0 0  350
May 0 300  350
June 0 400  
July 0 400  
August 135  400  
September 470  500  
October 600  550  
November 800  1600  
December 0  0  

 

 

2009

2008

2007

2006

2005
January 0 420 570 270 0
February 150 600 490 190 0
March 0 460 550 280 0
April 0 450 670 310 320
May 0 500 540 570 470
June 200 800 400 570 360
July 300 960 670 500 360
August 500 970 470 410 510
September 0 1540 730 850 580
October 0 1400* 880 890 740
November 0 300 1250 910 1000
December 0 0 0 0 0

 * From 23 October 2008: NOK 620 million

 

 

2004

2003

2002

2001

2000
January 0 150 180 370 130
February 0 150 180 400 150
March 0 170 225 400 190
April 0 170 225 430 190
May 0 130** 300 440 160
June 0 0 300 460 190
July 300 0 250 550 190
August 150 0 250 550 190
September 630 0 250 640 200
Ocktober 430 0 200 640 290
November 640 0 200 640 350
December 0 0 185 220 370

** From 21 May 2003: NOK 0 million

 

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