Norway central bank to buy NOK, sell foreign currency to fund transfers to government
Adds detail on purchases in paragraphs 1-5
COPENHAGEN, Dec 16 (Reuters) -Norway's central bank will purchase Norwegian crowns by sellingcurrency from its foreign exchange reserve tofund the transfer of dividends to the country's government for the 2024 financial year, it said in a statement on Monday.
The purchases, were expected to amount to some 27 billion Norwegian crowns ($2.43 billion) and will be evenly distributed over the period between March 2025 and February 2026, the central bank said in a statement.
Transactions will be made on the trading days on which Norges Bank carries out foreign exchange transactions on behalf of the government, and the purchases will be executed in the market as a daily net amount, it said.
The transfers will not influence the long-term level of banks' deposits in Norges Bank added.
($1 = 11.1307 Norwegian crowns)
Reporting by Louise Breusch Rasmussen, editing by Terje Solsvik
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