Norwegian krona (Norway’s krona) are strongly influenced by expectations for oil prices, because oil is the country’s largest export goods.
- Common names for Norwegian krone
- Countries with Norwegian krone
- How much are the NOK traded?
- Currency symbol and ISO-code
- Currency crisis with Norwegian krona
- Norges Bank
- Trade Norwegian krone
- History of the Norwegian krone
- NOK vs other currencies
- Pictures of Norwegian krone, notes
Common names for Norwegian Krone
Kroner (Norway), Norske kroner (Norwegian), norsk krone (Norway), NKr (unofficial abbreviation) and Kr (another unofficial abbreviation) are some of the most common names for the Norwegian currency.
Countries with Norwegian Krone
The only country using Norwegian krone is Norway.
How much is the Norwegian Krone traded?
Norway has a currency that despite its small size are traded relatively frequently. Of the daily online forex trading, NOK stands for 2.2%, making Norwegian krone to the 10th most traded currency in the world.
The value of the Norwegian krone will vary quite often in relation to other major currencies. Variability refers often to the direction of the major currencies (USD, EUR), interest rates and the prevailing oil prices and expectations of future oil price developments. Norway’s economy have been in good standing, with one of the largest budget surplus, which have made it considered a ‘safe haven currency’. Opponents argue, however, that the country is too small to be classified as an alternative currency to dollars, euros or Swiss francs.
Currency symbol and ISO-code
The only official ISO code as currency traders and money exchange offices are using is NOK.
History of Norwegian Krone
The Scandinavian monetary unit, the krona, was introduced in 1875 together with Denmark and Sweden. It replaced Norwegian thaler for a rate of 4 kroner = 1 silver thaler. The Scandinavian currency lasted to the 1st World War, when Norwegian krone again broke away and became its own currency.
After long periods of fixed exchange rate, particularly against the USD and gold, so decided to Norges Bank in 1992 to move to a floating exchange rate, not least because of heavy speculation against the currency.
Currency Crises with NOK
In the first half of 1990, Norwegian central bank support bought 2 billion NOK in a relatively short period of time. They then were forced to move to a floating exchange rate.
Norges Bank has the primary objective of monetary policy is also pursued a low and stable inflation. The operational objective of monetary policy is an annual growth in consumer prices over time is near 2.5%.
Online Forex Trading with Norwegian Krone
The euro is part of the 10 most actively traded currency pairs. Trading currency with Norwegian krone indicates a relatively high risk, when the currency is highly influenced by oil prices and recent years have shifted much.
Norwegian Krona’s value against other currencies
Norwegian krone is included in the 10 most actively traded currency pairs. Trading currency with Norwegian krone indicates a relatively high risk, when the currency is highly influenced by oil prices and recent years have shifted much.
Pictures of Norwegian Krone
Below are some common notes from Norway.
Read the latest news about Norwegian Krone.