Norway's central bank cuts crown purchases
OSLO, Nov 23 (Reuters) - Norway's central bank will reduce its daily foreign exchange sales on behalf of the government from the equivalent of 1.6 billion crowns ($178.47 million) to 500 million crowns, it said on Monday.
The reduction takes effect immediately, Norges Bank said.
In order to make funds available for the government's fiscal budget, the central bank exchanges currency earned from the oil industry and its sovereign wealth fund into Norwegian crowns. ($1 = 8.9651 Norwegian crowns) (Reporting by Terje Solsvik, editing by Gwladys Fouche)
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