AED
United Arab Emirates Dirham
Norway
NOK
-
Norwegian Krone
Convertible:
Yes
- Transferable:
Yes
- Exchange rate regime:
Floating
Available currency pairs
Types of transaction
| FX SPOT | FX FORWARD |
|---|---|
| Delivery date: T; T+1; T+2 | Maximum maturity: 24 months |
| Liquidity: Good | Liquidity: Good |
EUR/NOK parity: liquidity schedules (GMT)
Did you know?
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.
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.
Regulations
There are no special restrictions on the purchase and sale of NOK.
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.
Payments in NOK to Norway
- The IBAN format is mandatory.
- Payment instructions must contain the full name of the beneficiary.
| Public Holidays 2018 (subject to change) | |||
|---|---|---|---|
| New Year’s Day | 1 January | Constitution Day | 17 May |
| Maundy Thursday | 29 March | Whit Monday | 21 May |
| Good Friday | 30 March | Christmas Eve | 24 December |
| Easter Monday | 2 April | Christmas Day | 25 December |
| Labour Day | 1 May | Boxing Day | 26 December |
| Ascension Day | 10 May | ||
Source:
https://www.norges-bank.no