Norway central bank cuts crown currency puchases to zero


Reuters | Oslo | Updated: 18-11-2021 16:43 IST | Created: 18-11-2021 16:41 IST
Norway central bank cuts crown currency puchases to zero
Representative Image Image Credit: ANI
  • Country:
  • Norway

Norway's central bank said on Thursday it will cut its daily purchase of the crown currency to zero from 700 million Norwegian crowns ($80 million) due to a larger-than-expected cash inflow from the country's oil and gas industry.

The revised policy takes effect on Friday and lasts until the end of November, Norges Bank said.

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