Norges Bank has announced a significant increase in its daily foreign exchange purchases for July, tripling the volume from the previous month.
The central bank will now buy NOK 524 million net per day in the market, compared to NOK 224 million daily in June.
In June, NOK 100 million of the daily purchases were specifically allocated to cover operational costs related to the distribution and handling of physical cash.
This adjustment reflects the bank's ongoing management of currency liquidity and its commitment to maintaining adequate physical cash supply in the Norwegian economy.
The increase in purchasing volume comes as Norges Bank continues to balance the needs of a rapidly digitizing payment system with the demand for physical currency.
In June, NOK 100 million of the daily purchases were specifically allocated to cover operational costs related to the distribution and handling of physical cash.
The remaining volume supports broader foreign exchange market operations and ensures sufficient liquidity for banks and financial institutions.