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Norwegian Krone NOK

 

Detailed information and fundamental factors

Central Bank: Norges Bank

Public Debt to GDP Ratio, 2016: 32.2%

Trade Balance, 2016: $19.38 bln.

Inflation, 2016: 3.5%

Sovereign Credit Ratings:

Fitch
AAA
Stable
Moody's
A2
Negative
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 Rises After Central Bank’s Meeting, Crude Oil Rally

The Norwegian krone rose against the US dollar today after the nation’s central bank basically ruled out the possibility of an interest rate cut. The gains of crude oil also helped the currency.

Norwegian Krone Down vs. US Dollar Following Norges Bank Meeting

The Norges Bank (Norway’s central bank) was one of the central banks that were conducting policy meetings today and decided to keep their monetary policies unchanged. The Norwegian krone (as well as most other currencies) traded below the opening level against the US dollar after the meeting.

Norwegian Krone Rallies After Non-OPEC Producers Join Output Cuts

The Norwegian krone joined the rally against the US dollar together with other currencies of oil-producing countries after the meeting between OPEC and non-OPEC producers on the weekend.

Norway Central Bank Makes No Changes to Policy, Krone Climbs

The Norwegian krone climbed versus the US dollar after Norway’s central bank refrained from cutting interest rates during today’s policy meeting.

Norwegian Krone Higher After Policy Decision & GDP

The Norwegian krone rose today after the Norges Bank kept monetary policy unchanged and the decent growth of Norway’s economy reduced the risk of interest rate cuts.

Norwegian Krone Rises, Ignoring Interest Rate Cut

The Norges Bank was yet another central bank to hold policy meeting today. The bank made a decision to cut its key interest rate. Surprisingly enough, the Norwegian krone gained against its major peers despite the news.

Norwegian Krone Slumps After Central Bank Cuts Key Rate

The Norwegian krone slumped today after the nation’s central bank unexpectedly cut the key policy rate and signaled that another rate decrease is probable.

Norwegian Krone Remains Weak After Interest Rate Cut

The Norwegian krone remained weak today after Friday’s decision of Norway’s central bank to reduce its key policy rate. The bank predicted that borrowing costs will remain unchanged for the next two years.

Norwegian Krone Drops Ahead of OPEC Meeting

The Norwegian krone dropped today ahead of this week’s meeting of oil-producing countries. Oil exporters will gather to discuss steps for supporting prices for crude that have been in decline since June.

Norwegian Krone Gains as Norges Bank Remains Passive

The Norwegian krone gained today following yesterday’s decision of Norway’s central bank to keep its benchmark interest rate unchanged. Such decision was widely expected by market analysts.

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