Norges Bank manages the foreign exchange reserves on its own behalf. The foreign exchange reserves shall be available for interventions in the foreign exchange market in connection with the implementation of monetary policy or in the interest of promoting financial stability.

The foreign exchange reserves are divided into a money market portfolio and an investment portfolio. In addition, a buffer portfolio has been established for foreign exchange purchased to build up the Petroleum Fund. The investment portfolio accounts for the largest portion of the foreign exchange reserves, and is managed along with the petroleum buffer portfolio by Norges Bank Investment Management.

The Market Operations and Analysis Department in Norges Bank Monetary Policy is responsible for managing the money market portfolio.

• Investment strategy