Norwegian krone (NOK)

The stability of the national economy is the key to the stability of the national currency. This principle characterizes Norway as perfectly as possible.

The first Norwegian kroner

The appearance of the first money in the modern territory of the Scandinavian state dates back to approximately the tenth century. It was from this period that various coins began to circulate, minted by a multitude of mints scattered throughout the country. In 1695 the first banknotes were issued, and the right to print them was transferred from one private bank to another.

In 1875, following Sweden and Denmark, Norway joined the Scandinavian Coin Union. This meant replacing the spesidalers then in circulation in the country with a single currency for all parties to the agreement - Norwegian krone. The gold standard was adopted, which Norway finally abandoned in 1931. By this time the country had already left the union, but retained the name of the currency. After the end of World War II the Norwegian krone was pegged to the rate of British poundand then to US dollaruntil a floating exchange rate was established in 1992.

World's highest grades

The Scandinavian state was one of the few that survived the crisis of 2007-2009 almost without consequences. A symbolic decline in GDP or an increase in inflation by a tiny 1-2% does not compare at all with the similar indicators of the world leaders, much more affected by the recession.

The Norwegian government pursues a thoughtful and disciplined policy aimed primarily at maintaining stability in the country, paying great attention to risk insurance. A reserve fund has been established for future generations an investment fund of $350 billionNorway is the fifth-largest exporter of "black gold" in the world. Norway has repeatedly been named the best country to live in, and the nation's issuing companies are in the top AAA reliability category, according to rating agencies.

The stable economic situation in the state could not help but have an impact on the local currency. Norwegian krone has recently begun to draw the attention of financial analysts with its stability. Moreover, its main competitors - the Japanese yen, the Swiss franc and the Australian dollar - are experiencing not the best of times, especially the monetary symbol of the Land of the Rising Sun. While oil prices are going up, the krona is going up, helped by the Scandinavian state's soft monetary policy. No wonder analysts at HSBC called the Norwegian krone the best currency in the world in 2009.

Norwegian krone denominations

Coins in denominations of 50 kroner, 1, 5, 10 and 20 kroner and banknotes in denominations of 50, 100, 200, 500 and 1,000 kroner are now in circulation. The international code for the Norwegian krone is NOK.

Norwegian krone on

The Norwegian krone is in the second basket of the most widespread currencies in market . The Norwegian krona appreciated strongly in the 2000s, mainly due to rising oil prices and the sound economic policies of the Norwegian government. The country's economy suffered the least during the global financial crisis, it contributed to the competent investment decisions of the monetary authorities of the country. Factors affecting the exchange rate NOK - oil prices, sovereign rating, the general state of the world currency market.

Images of the Norwegian krone