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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 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.

Norges Bank Plans No Interest Rate Cuts, Krone Jumps

The Norwegian krone jumped after Norway’s central bank refrained from an interest rate cut at today’s policy meeting. What is more, bank’s chief Oeystein Olsen hinted at a possibility of an interest rate hike after 2015.

Norges Bank Says Interest Rate Cut Possible, Krone Drops

The Norwegian krone sank today after the nation’s central bank left its monetary policy unchanged at today’s meeting but said that an interest rate cut is possible in case the economy worsens significantly.

Norway’s Interest Rates Remain Stable, Krone Gains

The Norway krone climbed today after the nation’s central bank kept interest rates unchanged and signaled that borrowing costs may start rising next year.

Norwegian Krone Falls on Talks About Budget Reduction

The Norwegian krone dropped today as nation’s officials suggested that a stronger currency may be harmful to the economy, affecting local exports in a negative way. Some drastic measures, like budget reduction, might be taken in case of appreciation.

Norwegian Krone Rises After Central Bank’s Statement

The Norwegian krone advanced today after the central bank left its main policy rate unchanged and said that the currency has depreciated. Such wording suggests that policy makers will not take actions to weaken the krone.

Norway Krone Stronger After Central Bank’s Policy Meeting

The Norway krone advanced today after the nation’s central bank left its key policy rate unchanged and signaled that it plans interest rate hikes, not cuts.

Data from Statistics Norway Makes Krone Weaker

The Norwegian krone fell today as a set of negative reports was released today by Statistics Norway, making the nation’s currency less attractive to traders who prefer to avoid risky assets due to the poor market sentiment.

Norwegian Krone Drops on Slowing Growth, Recovers

The Norwegian krone was flat today after falling earlier as slowing economic growth made an interest rate cut from the central bank more likely. Such prospects hurt the currency, but it managed to recover as of now.