Norwegian Krone

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Norwegian Krone

The currency of Norway. Originally issued in 1875 when Norway joined the (now defunct) Scandinavian Monetary Union, it was a gold standard currency, off and on, until it became pegged to the British pound in 1931. After World War II, it maintained its peg to the pound, which was itself pegged to the U.S. dollar. It was later pegged to the dollar directly. In 1992, it became a floating currency.
References in periodicals archive ?
This kind of arrangement may hamper the theoretical long run link between real oil prices and Norwegian currency. However, over the short run, an oil price shock has a negative significant effect on the NOK/USD.
The market for Norwegian currency options is relatively liquid in spite of its small size.
A rising oil price and a higher risk appetite due to the improvement on the financial markets are the reason that several experts now consider the Norwegian currency is ready to make a real comeback.
Due to the weakening of the Norwegian currency and changes in interest rates, net financial items dragged down the pre-tax result to a loss of NOK956m, as compared to a loss of NOK117m in the fourth quarter the previous year.
A weakening of the Norwegian currency would make Norway's exports more competitive.

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