{
  "id": 17205256,
  "title": "Norges Bank holder kronesalget uendret",
  "url": "https://urgent.news/2026/10/30/norges-bank-holder-kronesalget-uendret",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-30T09:01:06.000Z",
  "source": {
    "name": "E24 Norway",
    "slug": "e24-norway",
    "url": "https://e24.no/norsk-oekonomi/i/eGVrmM/norges-bank-holder-kronesalget-uendret-paa-176-millioner-kroner-daglig-i-november"
  },
  "original_language": "en",
  "account": "Norges Bank is set to sell 176 million kroner daily in November, according to a statement from the central bank, buying an equal amount of foreign currency. This is the same as the previous two months. Earlier this year, Norges Bank purchased kroner, but switched to selling in September. The trend has continued into October. The krone has strengthened further over the past week, marking the clear trend in recent times. However, there are no significant movements around the announcement of the currency transactions. The euro costs 10.30 kroner less than an hour after 10 a.m., making the krone the strongest against it in nearly four years. The krone transactions involve trading, as Norway has oil revenues in both kroner and other currencies. Part of these is used each year to cover a planned budget deficit in kroner. The rest is kept in foreign currency in the Oil Fund. One part of the currency transactions in November is 300 million in selling kroner daily on behalf of the state, relative to the budget. At the same time, there is a krone purchase equivalent to 124 million kroner, exactly as the previous month. Norges Bank has determined that 29.4 billion kroner will be transferred to the state in dividends and interest in 2026, based on 2025 results. These krone purchases are distributed evenly throughout the year. Currency transactions are not the same as monetary intervention, which means the central bank sells or buys kroner with the aim of influencing the krone exchange rate. The Norwegian krone has strengthened significantly this year, against several important currencies and economies around us, particularly the euro and the Swedish krona. High prices for oil and gas are the main cause, experts say. Oil and gas prices have risen sharply due to the war in the Middle East and have stayed there in the fall. Gas prices have particularly soared. This is important for the krone exchange rate. Gas has become an increasingly important source of income for Norway compared to oil in recent years, noted senior economist Bjørn Roger Wilhelmsen of Nordkinn to E24. Rising oil and gas prices mean oil companies must buy more kroner to pay taxes, increasing the demand for kroner. Higher interest rates in Norway than elsewhere, and uncertainty about government finances in Europe are other contributing factors experts have pointed to for explaining the stronger krone. Wilhelmsen had expected Norges Bank to increase kroner purchases from November. \"Norges Bank simply bought too many kroner this year, given the development of oil and gas prices,\" the senior economist said to E24 earlier this week. The logic is that currency transactions did not take account of the surprising high energy prices, as oil and gas prices were much lower last year. Therefore, the central bank essentially bought more kroner while oil companies bought a lot of kroner, according to Wilhelmsen. This is a natural discrepancy, but Norges Bank has gradually started to turn around as it switched to kroner sales in September and October, Wilhelmsen explained. The central bank buys and sells currency on behalf of the state because Norway gets oil revenues in both kroner and other currencies. If revenues in kroner are so high that they cover more than what is used for the budget, the state needs Norges Bank to sell kroner. DNB Carnegie expected daily purchases in November, senior economist Kyrre Aamdal wrote in the morning report earlier Friday, - It is especially a new estimate for the oil-corrected deficit in this year's budget that creates uncertainty about the size of the purchases. The deficit was revised down by 16.4 billion kroner, which, stripped down, increases the need for Norges Bank to buy more currency on behalf of the state. - We have based our calculations of currency purchases in October on the fact that this was known to Norges Bank, and we expect daily purchases.",
  "summary": "Den norske kronen har styrket seg betydelig i år.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}