Norwegian Krone (NOK)
Candlefocus EditorThe Norwegian Krone currently uses coins in denominations of 1, 5, 10, and 20 krone and banknotes divided into 50, 100, 200, 500, and 1,000 denominations. The Krone also has an associated exchange rate relative to the U.S. dollar, with one Krone being equal to $0.10 cents as of August 23, 2022.
One of the significant advantages of using the Norwegian Krone is that it is relatively stable in comparison to other currencies. This is due to the Norges Bank's independent monetary policy, which has the stated goal of ensuring price stability and keeping inflation low. It has also held up relatively well against the euro in recent years.
In terms of international transactions, the Norwegian Krone is used in several countries and markets. Besides Norway, it also is accepted in some areas of Sweden, Denmark, and Finland. Additionally, Norwegian Krone is used in several other countries in the world as well, including Iceland and African nations such as Gambia, Guinea-Bissau, Sao Tome, and Principe.
The Norwegian Krone is a viable currency for those doing business in or traveling to Norway. The currency is relatively stable, is accepted in several international markets, and has an associated exchange rate that is favorable to most. If you are planning on doing business in Norway, or just visiting, the Norwegian Krone is likely the currency you will want to use.