Norges Bank increases sales of foreign exchange on behalf of the government in March 2020
Effective from today, Wednesday, 18 March, Norges Bank will increase its daily sales of foreign exchange on behalf of the government from an amount equivalent to NOK 500 million to an amount equivalent to NOK 1 600 million.
The effects of the coronavirus outbreak on the Norwegian economy and the measures implemented to limit the consequences of the outbreak entail an increase in government spending and a decline in government revenues. The government must therefore convert an increased share of petroleum revenues into NOK. Norges Bank is responsible for executing these foreign exchange transactions on behalf of the government.
For further information, see Norges Bank's foreign exchange transactions on behalf of the government.
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