Norway

NOK - Norwegian Krone
Convertible: Yes - Transferable: Yes - Exchange rate regime: Floating
Norway

Type of transactions

FX SPOT FX FORWARD
Delivery date: T; T+1; T+2 Maximum maturity: 12 months
Liquidity: Good Liquidity: Good

EUR/NOK parity: liquidity schedules (GMT)

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