7
votes
The value of Norway's sovereign wealth fund, the world's largest, grew to a record ten trillion Norwegian crowns ($1.09 trillion) on Friday
Link information
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- Title
- Norway wealth fund grows to record 10 trillion crowns
- Authors
- Reuters Editorial
- Published
- Oct 25 2019
- Word count
- 343 words
This is mostly due to the Norwegian Krone being at its lowest exchange rate against foreign "reserve" currencies in 20 years.
Yes, the value of the sovereign wealth fund is larger than all the taxes/revenue from the Norwegian oil and gas sector due to extremely profitable investments and historic high stock exchanges, but the currency rate is what's really making the headlines in Norway based on NOK valuations rather than USD or Euro, for example.