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 ?
An increase in interest rate differential leads to a decrease in the money demand with a negative effect on the Norwegian currency.
The market for Norwegian currency options is relatively liquid in spite of its small size.
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.
Talgoe AS and its subsidiary Krogenaes blame the economic slowdown, high labour costs and a strong Norwegian currency as the reasons behind the bankruptcy filing.
One of the reasons for this is that international currency traders are buying the Norwegian currency - the country has reported a NOK165bn surplus in the budget.

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