Norway central bank further raises its purchase of crowns

March 31, 2020

OSLO (Reuters) – Norway’s central bank will further increase its daily purchase of Norwegian currency to 2 billion crowns ($190 million) per day from 1.6 billion crowns earlier, selling foreign currency to fund government spending, it said on Tuesday.

On March 18, the central bank had said it would increase its daily purchase of Norwegian crowns to 1.6 billion Norwegian crowns per day from 500 million crowns earlier. [L8N2BB1LP]

In order to make funds available for the government’s fiscal budget...