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.
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References in periodicals archive ?
Snohvit (Snow White), the mammoth gas project in the Barents Sea, will overshoot its provisional budget by 4 to 6 billion Norwegian Kroner (Euro 484 to 726 million), Norwegian oil group Statoil has announced.
On the negative side, results were affected by weakened oil and gas prices and refining margins measured in Norwegian kroner," said Olav Fjell, CEO of Statoil.

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