Norway keeps crown purchases at NOK 900 million

Norway's central bank will keep its daily sale of foreign currency unchanged at 900 million Norwegian crowns in January, it said on Friday. The level was raised in December to 900 million per day from 650 million per day in November, although trades were only conducted from Dec. 1-15, in keeping with the bank's policy of staying out of the market during the year-end holiday season.
In order to make funds available to be spent as part of the government's fiscal budget, Norges Bank exchanges currency earned from the country's oil industry and its sovereign wealth fund into Norwegian crowns.