Foreign exchange transactions in May 2023
Norges Bank will purchase foreign exchange on behalf of the government equivalent to NOK 1400 million per day in May 2023.
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.
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