Norges Bank will in October not purchase foreign exchange for the Government Pension Fund – Global.
Fund’s need for foreign exchange is covered partly from the State’s Direct Financial Interest in petroleum activities (SDFI) and partly by Norges Bank’s purchases in the market.
Ministry of Finance determines the size of the monthly allocation to the fund. Norges Bank’s purchases of foreign currency is equal to the difference between this provision and the estimated foreign exchange revenues in SDFI. It is adjusted for any revisions of estimates for the previous month. This means that the daily purchases may vary from month to month. The daily foreign exchange purchases are determined for a month at a time and announced last business day in the previous month.