Norway's oil fund makes a loss in third quarter

The market value of Norway's sovereign wealth fund fell in the third quarter, hit by the global financial turmoil and appreciation of the krone. However, the value of the fund passed Nkr2 trillion ($369 billion) for the first time in October.

Norges Bank revealed on Tuesday that the market value of the Government Pension Fund, which invests the country's oil revenue, had dropped from Nkr1,939 trillion to Nkr1,932 trillion.

The fund made a Nkr 21.3 billion return on investment, but Nkr104.4 bi