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Norwegian Krone NOK

 

Detailed information and fundamental factors

Central Bank: Norges Bank

Interest Rate: 1.50%

Public Debt to GDP Ratio, 2017: 37%

Trade Balance, 2018: $23.9 bln.

Inflation, 2018: 2.8%

Sovereign Credit Ratings:

Fitch
AAA
Stable
Moody's
Aaa
Stable
S&P
AAA
Stable

Supporting Factors

Major commodity exporter

weak

Factors of Weakness

Dependence on the eurozone

The Norwegian krone is the currency officially used in Norway, while it also used in neighboring countries near the border with Norway. The currency was introduced in 1875 and allowed to float freely in 1992. The exchange rate of the currency depends on prices for crude oil and interest rates. Norway is exporting oil and performance of the krone depends on this commodity.



Norwegian Krone News Archive

Norwegian Krone Falls Despite Interest Rate Hike

The Norwegian krone plunged today even though Norway’s central bank raised its benchmark interest rate, performing a rate hike for the fourth time over the year.

Norwegian Krone Gains Despite Falling Manufacturing Production

The Norwegian krone gained against some of its major rivals today despite falling manufacturing production. Some analysts argued, though, that the data was not as bad it might seem at first glance.

Norwegian Krone Climbs Despite Inflation Miss

The Norwegian krone climbed today even after nation’s consumer inflation missed expectations.

Norwegian Krone Soars After Norges Bank Hikes Interest Rate

The Norwegian krone surged today after the nation’s central bank announced an interest rate hike and signaled about probability of additional hikes in the future.

Norwegian Krone Declines as Inflation Slows

The Norwegian krone declined today after nation’s inflation slowed unexpectedly last month.

Norwegian Krone Follows Crude Oil in Rally

The Norwegian krone gained today as the rally of crude oil boosted currencies of oil exporting nations.

Norwegian Krone Jumps After Inflation Data

The Norwegian krone climbed today, reaching the highest level for the year against the euro. The reason for the sharp rise was the better-than-expected inflation print released during the trading session.

Norwegian Krone Rallies Despite Slowing Economic Growth

The Norwegian krone rallied against the US dollar today even as Norway’s economic growth slowed.

Norwegian Krone Gains After Norges Bank Hikes Interest Rates

The Norwegian krone managed to gain on the US dollar even though the greenback was generally strong today, rebounding after yesterday’s losses. The most likely reason for that was the interest rate hike by Norway’s central bank.

Norwegian Krone Flat Following Interest Rate Hike

The Norwegian krone was little changed today after the nation’s central bank raised its key policy rate yesterday.

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