Norges Bank sees $1.28 billion loss

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The Norges Bank made a NKr 7.6 billion ($1.28 billion) deficit in 2009, accounts released Thursday showed.

The central bank, which ran a surplus of Nkr 3.3 billion in 2008, put the deficit down to foreign exchange reserve losses due to the appreciation of its currency, the krone. The currency has gained 11.4% against the euro over the past year, going from €0.1114 last March to €0.1241 on Thursday.

As a result of the loss, the central bank said it cannot afford to transfer funds from its adjust

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