Norwegian Krone

NOK

  • Convertible: Yes
  • Transferable: Yes
  • Exchange rate regime: Floating
Currency Reference Centre

Available Currency Pairs

EURNOK

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USDNOK

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GBPNOK

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CHFNOK

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AEDNOK

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AUDNOK

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CADNOK

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ILSNOK

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NOKCNY

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NOKDKK

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NOKHKD

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NOKHUF

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NOKJPY

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NOKMXN

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NOKTHB

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NOKZAR

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NZDNOK

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PLNNOK

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RONNOK

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SGDNOK

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Transaction Types

FX SPOT
Delivery date: T+1; T+2
Liquidity: high
FX FORWARD
Maximum maturity: 24 months
Liquidity: high

Did You Know?

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Monetary policy

  • Norges Bank (NB) is the Central Bank of Norway. Its objective is to ensure price stability via its monetary policy.
  • Price setting method: the floating exchange rate is described as “supervised”. Although NB could intervene in the market, it considers this tactic to be inappropriate, which explains why the last action of this type dates back to January 1999.
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Features and highlights

  • The NOK is considered a “raw material motto”, which is a singularity (the only one of its type) within Western Europe. By way of illustration, the country is the world’s third-largest exporter of natural gas and the largest producer of oil in the region.
  • The country has the second-largest sovereign fund of the planet (GPFG, Government Pension Fund - Global). Oil revenues are invested, so they benefit future generations of Norwegians.
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Expert opinion

  • The evolution of the NOK is partly correlated with that of energy prices: when they appreciate, this tends to favour the krone against other currencies.
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Regulations

There are no special restrictions on the purchase and sale of NOK.

Important Information

PAYMENTS IN NOK TO NORWAY

The IBAN format is mandatory. Payment instructions must contain:

  • The full name of the beneficiary.

Keep In Mind

PUBLIC HOLIDAYS

New Years Day 1 Jan
Good Friday 30 Mar
Labour Day 1 May
Constitution Day 17 May
Christmas Eve 24 Dec
Boxing Day 26 Dec
Maundy Thursday 29 Mar
Easter Monday 2 Apr
Ascension Day 10 May
Whit Monday 21 May
Christmas 25 Dec

When a holiday falls on a weekend, the next business day becomes a holiday

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Currency Reference Guide

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Reference guide