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Norwegian Krone NOK

 

Detailed information and fundamental factors

Central Bank: Norges Bank

Interest Rate: 1.00%

Public Debt to GDP Ratio, 2017: 37%

Trade Balance, 2017: $22.9 bln.

Inflation, 2017: 2.1%

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 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.

Norwegian Krone Gains as Norges Bank Hints at Interest Rate Hike

The Norwegian krone rallied today after the nation’s central bank kept its monetary policy without change but hinted at a possibility of an interest rate hike in the near future.

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.

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