Foreign exchange transactions on behalf of the government

Norges Bank will purchase NOK 400 million worth of foreign exchange on behalf of the government per day in March 2025.

The Norwegian government receives revenues in both NOK and foreign currency from petroleum activities. Some of these revenues are used to finance a planned central government budget deficit, the structural non-oil deficit. The remainder is saved in foreign currency in the Government Pension Fund Global (GPFG). On behalf of the Ministry of Finance, Norges Bank carries out the necessary foreign exchange transactions related to petroleum revenue spending over the central government budget and saving in the GPFG.

Read more about the petroleum fund mechanism and foreign exchange transactions on behalf of the government.

Funding of the transfer of dividends to the government

Norges Bank will sell foreign exchange equivalent to NOK 126 million per day in March 2025 to fund the transfer of dividends to the government.

Norges Bank’s Executive Board decided in December 2024 to purchase NOK to fund the transfer of dividends to the government for the 2024 financial year. Dividends are set at NOK 30,1 billion. The NOK purchases will be evenly distributed over the trading days when foreign exchange transactions can be made on behalf of the government in the period between March 2025 and February 2026. The amount will not change. See the press release for more information on the funding of the transfer of dividends to the government.