Norges Bank

Norges Bank (Bokm??l: Norges Bank, Nynorsk: Noregs Bank, lit. 'Bank of Norway') is the central bank of Norway. It is responsible for managing the Government Pension Fund of Norway, which is the world's largest sovereign wealth fund, as well as the bank's own foreign exchange reserves. History The history of the central bank of Norway can be traced back to 1816, when, two years after the separation from Denmark and the union with Sweden, Norges Bank was established by an Act of the Storting (the Norwegian parliament) on 14 June. The bank then decided that the monetary unit was to be the speciedaler (rixdollar), divided into 120 skillings or five ort ("rigsort") of 24 skillings each. The Money Act of 17 April 1875 discontinued the terms daler and skilling, and it was decided that the...

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