Exchange rate NOK - Norwegian krone
The Norwegian kroner (norw. Krone) is the official currency of Norway. The kroner has been present in this country since the days of the Scandinavian Monetary Union with Sweden and Denmark. 1 krone is divided into 100 øre.
Norwegian krone exchange rate - chart
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The Norwegian krone
The Norwegian krone (NOK) is the official monetary unit of Norway and its territories. It is subdivided into 100 øre, although the hundredths of a Norwegian krone have already been withdrawn from circulation and are used only in non-cash settlements. The Norwegian krone exchange rate is important for Europeans, who emigrate to Norway for work purposes.
The Norwegian krone - where can we use it?
The Norwegian krone is the official currency of Norway. However, it is worth knowing that NOK is also used by residents of territories under this country's jurisdiction. The currency is valid on Bouvet Island, Jan Mayen Island, Peter I Island, Queen Maud Land and Svalbard. Therefore, checking the NOK exchange rate before travelling to these areas is always a good idea.
The history of the Norwegian krone
The Norwegian krone has been used as currency in Norway since 1875. Then the country joined the Scandinavian Monetary Union, which was formed two years earlier. Apart from Norway, the Union also included Sweden and Denmark. All of these countries adopted a common currency name, the "krone" or "krona" (English "crown"). The Union officially broke up after the outbreak of the First World War. However, the member countries decided to keep the currency's name, adding a segment indicating nationality. In the case of Norway, it is, therefore, the Norwegian krone. During World War II, the Norwegian krone exchange rate was pegged to the Reichsmark. On the other hand, in the early 1990s, the NOK exchange rate correlated with the European Currency Unit (ECU), which was the euro's direct forerunner. However, Norway opted out of joining the eurozone and kept the NOK as its own currency.
The Norwegian krone - key information
NOK is divided into 100 øre, although hundredths of this currency are no longer in cash circulation. Coins with the following denominations 1, 5, 10 and 20 kroner are in circulation. They contain elements characteristic for Scandinavia - Nordic ornaments, wooden churches or Viking boats. Some NOK coins have a characteristic hole in the middle. This refers to traditions connected with the first Scandinavian money, which was strung by people and carried on straps and worn this way. The banknotes in denominations of 50, 100, 200, 500 and 1,000 Norwegian kroner depict elements from Norway's history and culture (a lighthouse, a Viking boat, etc.). Up until recently, older banknotes depicting important figures in the country's history were also in circulation. Those were withdrawn on November 15, 2020.
Check the Norwegian krone conversion rate before travelling
The NOK exchange rate, e.g. the NOK/EUR conversion rate, is particularly important for European countries' residents, mainly due to significant differences in product prices in stores which may affect tourists' funds. Knowing the current exchange rate of the Norwegian krone can be of great help. The popularity of the NOK/EUR pair is growing not only due to tourists who want to see the Norwegian fjords. Norway is one of many earning opportunities for Europeans. For this reason, converting NOK to EUR is not a problem nowadays.