Norway raises crown purchases

Norway's central bank will raise its daily sale of foreign currency in December, but will conduct them only in the period Dec. 1-15, it said on Thursday. The bank will sell foreign exchange equivalent to 900 million Norwegian crowns per day. Sales in November stood at 650 million.
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.