Are you interested in the current exchange rates and the price of the Norwegian krone? Stay up to date at all times! Below we present the current quotes of the Norwegian krone in our online exchange.
According to the ISO 4217 standard, the Norwegian krone is marked with the NOK code, but in the country, the “kr” abbreviation is used too. Another popular term is "øre", referring to one hundredth of a krona, although it has been withdrawn from circulation and is only used in cashless transactions.
Interestingly, the Norwegian krone is the official currency used not only on the mainland of Norway, but also the territories dependent on the kingdom. The NOK currency also functions on Queen Maud Land, Peter I Island, Bouvet Island and Svalbard, and its quotations are of interest to many countries, not only those bordering with Norway. The exchange rate of the Norwegian krone at a given moment is important, for example, for Poland, because, due to emigration and business relations, we exchange NOK for PLN more often than in the past, and vice versa, also in cashless settlements. The price of the Norwegian krone is also important for those who dream of spending at least a few days of vacation in the land of the fjords. Due to the high costs of food or apartment rental in Norway, the price of the Norwegian krone has a considerable impact on tourists’ wallets. Fortunately, the increase in popularity of the NOK PLN pair has made it easier and cheaper to exchange than a few years ago.
Norwegian banknotes feature graphics related to the sea, nature and history of the country. The coins, on the other hand, are decorated with motifs characteristic of Scandinavia, such as the Nordic ornament on the 1 and 5 NOK coins or the Viking longship on the 20 NOK coin.
The history of the Norwegian krone is strongly influenced by the neighbouring Scandinavian countries. The origins of the currency date back to 1875, when Norway, Denmark and Sweden, after establishing the Scandinavian Monetary Union, decided to introduce a common currency – the krone. The convertibility of krone into gold helped the Union survive the times of financial crises, however, World War I led to its final disintegration. All Union member countries decided then to keep the krone in the name of their currencies, adding only a reference to nationality. This is how today's Norwegian krone was created.
The currency in Norway, however, had a rather turbulent fate. During World War II, the Norwegian krone was pegged to the Deutsche mark and also to some extent to the British pound, as the Norwegian Central Bank was moved to London. In the early 1990s, the NOK exchange rate was in turn dependent on the ECU – the European monetary unit, the predecessor of the euro. In 1994, the Norwegians refused to join the Eurozone, which ended speculation about the possible abandonment of the NOK.
The Viking boat depicted on the 100 NOK banknote is one of Norway's most important historical artifacts. This is the famous Gokstad ship, which is now on display at the Viking Ship Museum in Oslo.
The holes in the 1 and 5 NOK coins are probably a reference to the traditional coins used in Scandinavia hundreds of years ago. The holes in the coins had a practical function at that time, because people did not carry them in purses but threaded them on cords.
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