Norway’s central bank will acquire FX worth $74.5 million per day in July for the Government Pension Fund Global, The Wall Street Journal reports. The Norges Bank bought the same amount on a daily basis in June.
The central bank offloads Norwegian currency to purchase foreign stocks and bonds with the oil fund’s money. The bank resumed this process in May after pausing for several months. Norges Bank manages the Pension Fund Global, which has a market value of over $500 billion.
Click here for the story from The Wall Street Journal.
