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Norweigan Krone

Norwegian Krone Rates

For a live quote on the Norwegian Krone, simply fill in your details on the form above and an FSA-regulated currency expert will be in touch with a competitive quote.

 

Latest Norwegian Krone Rates

Please see our latest exchange rates page for the most up-to-date mid-market rate.

 

Recent Trading Range

In 2011, the Norwegian Krone traded between 8.6263 to 9.085 against the Pound.

 

Latest Norwegian Krone Exchange Rate News

Please see our news section for the latest currency news affecting worldwide exchange rates. You can also visit our dedicated page on Money Transfers to Norway, including timescales and information needed to make your transfer.

 

Overview - NOK

The Krone is the currency of Norway and has the ISO code NOK. The krone was introduced in 1875, when Norway joined the Scandinavian Monetary Union, which had been established in 1873 and ran until 1914. The Krone was initially on a gold standard at a rate of 2480 Krone – 1 ounce gold which was the case until 1931 when it was pegged to the British Pound. In 1939 in was briefly pegged to the US dollar, then during the war pegged to the Reichsmark. Following the war, it was pegged back to the pound which was maintained until 1949 when the pound devalued relative to the U.S. dollar. In December 1992 the Norges Bank (Central Bank of Norway) abandoned the fixed exchange rate in favor of a floating exchange rate.

 

Current bank notes are 50, 100, 200, 500 and 1000.

 

The value of Norwegian kroner compared to other currencies varies considerably from one year to another, mainly based on changes in oil prices (Norway has historically been a key oil exporter) and interest rates. As of 2009 the Norwegian krone is the tenth most traded currency on the foreign exchange market.