The Norwegian krone (NOK) stands as the official currency of Norway, regulated and circulated by the nation’s central bank, the Norges Bank. The latest issuance, the eighth series of banknotes, were introduced with new 1000-krone bills in November 2019, preceded by the release of 50, 100, 200, and 500-krone bills in recent years.
As of August 2022, $1 USD equals approximately 9.77 NOK, rendering a single Norwegian Krone worth roughly $0.10.
Key Highlights
- The Norwegian krone (NOK), officially in circulation since 1875, is Norway’s designated currency.
- The krone’s regulation and issuance fall under the remit of the central bank, Norges Bank.
- The currency code for Norwegian krone is “NOK”, with the symbol “kr”.
- Coins exist in denominations of 1, 5, 10, and 20 krone, while banknotes come in 50, 100, 200, 500, and 1,000 krone values.
- As of August 23, 2022, the value of the Norwegian Krone is $0.10.
Understanding the Norwegian Krone
The Norwegian krone (translated as
Related Terms: currency, foreign exchange, Norges Bank, krone, economic trends.
References
- OANDA. “Norwegian Kroner”.
- Norges Bank. “Notes and Coins - Norges Bank’s Responsibility”.
- Norges Bank. “New Banknote Series Complete”.
- Norges Bank. “About the New Notes”.
- Xe. “US Dollar to Norwegian Krone Exchange Rate Chart”.
- Xe. “Norwegian Krone to US Dollar Exchange Rate Chart”.
- Norges Bank. “New 50-krone Note - Motifs”.
- Xe. “NOK - Norwegian Krone”.
- Collection Studio. “Blog: Use of 10 Syrian pound coins in Norway.”
- U.S. Energy Information Administration. “Background Reference: Norway”, Page 2.
- CIA World Factbook. “Norway”.
- The World Bank. “World Development Indicators: Norway”.
- Xe. “Norwegian Krone to Swedish Krona Exchange Rate Chart”.
- The Economist. “The Big Mac Index”.
- Xe. “50,800 NOK to USD - Convert Norwegian Kroner to US Dollars”.
- Statistics Norway. “Home”.
- Tax Foundation. “Taxes in Norway”.
- Xe. “US Dollar to Norwegian Krone Exchange Rate Chart: 10 Year”.
Get ready to put your knowledge to the test with this intriguing quiz!
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## What is the official symbol for Norwegian Krone?
- [ ] N
- [ ] K
- [x] NOK
- [ ] NRK
## Which country's currency is the Norwegian Krone?
- [ ] Sweden
- [ ] Denmark
- [x] Norway
- [ ] Finland
## What is a common name for sub-divisions of the Norwegian Krone?
- [x] Øre
- [ ] Cent
- [ ] Kopek
- [ ] Pennies
## How many Øre make up one Norwegian Krone?
- [ ] 50
- [ ] 200
- [x] 100
- [ ] 10
## Which central bank is responsible for issuing the Norwegian Krone?
- [ ] Sveriges Riksbank
- [ ] Danmarks Nationalbank
- [ ] European Central Bank
- [x] Norges Bank
## What is one impact of a strong Norwegian Krone on Norway's exports?
- [ ] It makes exports cheaper
- [x] It makes exports more expensive
- [ ] It has no impact
- [ ] It devalues exports
## When was the Norwegian Krone first introduced?
- [ ] 1602
- [ ] 1825
- [x] 1875
- [ ] 1948
## Which of the following abbreviations is used to represent Norwegian Krone in trading?
- [x] NOK
- [ ] DKK
- [ ] SEK
- [ ] EUR
## Which of these options primarily influences the value of the Norwegian Krone?
- [x] Oil prices
- [ ] Coffee prices
- [ ] Gold prices
- [ ] Agricultural output
## Which of the following currencies is pegged to Norwegian Krone?
- [ ] Danish Krone (DKK)
- [ ] Euro (EUR)
- [ ] British Pound (GBP)
- [x] None of the above
