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Mar 19, 2020 · Experts described the historic collapse of the Norwegian krone as a “fire sale” as it recorded the biggest single day fall in modern times. The Norwegian krone was already at record low against the US Dollar when the currency market hit the panic button on Wednesday.
May 3, 2023 · “We’re talking about a new situation,” Nils Kristian Knudsen, an interest rate- and currency strategist at Handelsbanken, told DN, referring to how the Norwegian krone has weakened by 20 percent against both the dollar and euro in the past year. Knudsen notes that energy prices, which often fuel the krone, topped out last summer.
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May 28, 2021 · Norges Bank publishes weekly statistics on the purchase and sale of the Norwegian krone (NOK) against foreign currencies in the spot, forward- and swap market. The statistics are based on transaction data submitted by the largest banks in the NOK market. Even though underlying transactions only represent a share of the increasing global turnover in the NOK market, the statistics nevertheless ...
Mar 22, 2020 · The previous “record” was December 16, 2014, when the krone exchange rate fell 60 cents in a short time, E24 writes. Sensitive to oil prices The foreign exchange market is in complete panic. Magne Østnor, a currency strategist at DNB Markets, describes it as a fire sale. – The financial markets are about to melt down.
May 30, 2023 · Since February this year, the krone has weakened by more than one krone against the dollar, which hasn't been stronger since 2020. The Norwegian krone has also weakened against the euro in the last two weeks, from around 11.54 kroner to 11.91 today. Things aren't any better when it comes to the British pound: the krone has weakened sharply ...
- Robin-Ivan Capar
- news@thelocal.no
5.4% (April 2022) Source. Norges bank. The krone ( Norwegian: [ˈkrûːnə], abbreviation: kr (also NKr for distinction); code: NOK ), plural kroner, is the currency of the Kingdom of Norway (including overseas territories and dependencies ). It was traditionally known as the Norwegian crown in English; however, this has fallen out of common usage.
Aug 2, 2023 · Updated: Wed 2 Aug 2023 14:30 CET. Increased interest rates and oil prices are behind the strengthening of the Norwegian krone. Pictured is a collection of Norwegian notes in ascending order of value spread on a white background. Photo by Jason Leung on Unsplash. Factors both in Norway and abroad have contributed to a stronger Norwegian krone.
