Norges Bank

Press release

Foreign exchange transactions in October 2022

Norges Bank will purchase foreign exchange on behalf of the government equivalent to NOK 4300 million per day in October 2022. Higher foreign exchange purchases in October than in September reflect an increase in projected NOK revenues from petroleum activity.

The Norwegian government receives revenues in both NOK and foreign currency from petroleum activities. Some of these revenues are used to finance a planned central government budget deficit, the structural non-oil deficit. The remainder is saved in foreign currency in the Government Pension Fund Global (GPFG). On behalf of the Ministry of Finance, Norges Bank carries out the necessary foreign exchange transactions related to petroleum revenue spending over the central government budget and saving in the GPFG.

Read more about the petroleum fund mechanism and foreign exchange transactions on behalf of the government


Press telephone: +47 21 49 09 30

Published 30 September 2022 10:00