1 US dollar to Norwegian kroner Exchange Rate Convert USD NOK

The pair fell to 10.07 in early June before bouncing to 10.50 later in the month. The krone is used throughout Norway as the primary currency when making payments for goods and services. It is also accepted when making payments in neighboring countries that share a border with Norway, such as Sweden and Finland. Not much is known of the Nok culture other than its iron works and terracotta sculptures, like this bas-relief. Most banks in Norway come with a mobile banking app, making it easier than ever to track income and expenditure.

1. If you own any of these, visit a bank and ask to trade it to a new bank note.
2. It is also accepted when making payments in neighboring countries that share a border with Norway, such as Sweden and Finland.
3. Instead of the early period’s decoration, which tended to cover most of the pot, instead, there is a decorative band which is bordered by deep horizontal lines.
4. Enjoy learning about Norwegian culture and travel tips from actual Norwegians.
5. Although it is occasionally affected by domestic troubles, the Norwegian economy is relatively stable and the currency is unlikely to see any sharp changes in value.

The last gold coins were issued in 1910; silver was replaced by cupro-nickel in 1920. During the German occupation of Norway in the Second World War, zinc was used in place of cupro-nickel in 10, 25, and 50 øre coins and production of the 1 krone piece was suspended. These are the average exchange rates of these two currencies for the last 30 and 90 days. In 1979, Nigeria’s National Commission of Museums and Monuments Decree established the National Commission for Museums and Monuments (NCMM), which is used to manage Nigeria’s cultural heritage. The general consensus was that laws governing antiquities and penalties for offenders needed to be strictly enforced and that all archaeological sites should be monitored.

Instead of the early period’s decoration, which tended to cover most of the pot, instead, there is a decorative band which is bordered by deep horizontal lines. This band appears on the pots’ upper half or directly under the rim of the bowls. Some bands have sharp ends as well as impressed zigzag lines or an incised wave or arc. Unlike the Early Nok period the Middle Nok ceramics tend to have more variety in the rim with everted rims, open bowls, bowls with inverted rims and incised line ornaments on the rims’ lips. The shapes of stone tools found at Nok sites change little throughout the entire span of the Nok Culture.

Because of metal shortages, 1 and 2 kroner notes were again issued between 1940 and 1950. In 1963, 5 kroner notes were replaced by coins, with the same happening to the 10 kroner notes in 1984. The 10 and 20 kroner coins carry the effigy of the current monarch.

Archaeologists have also discovered other iron artifacts from the Nok, like farming tools and weapons. However, while the Nok certainly had iron-smelting technology, they also used stone tools as well as metal, which suggests that metal materials were scarce and not widespread. Some believe that the Nok’s artistry influenced the beautiful metalwork of the Ife people, who later lived in the area of Nigeria. The Ife people (who lived around the 11th – 15th centuries C.E.) were famous for detailed and lifelike metal sculptures of human heads. However, it is still unclear whether the Nok art and metal working influenced later African societies like the Ife.

Norwegian Krone to United States Dollar

Both of these factors point towards a weaker NOK, while high energy prices should soften the blow. We see EURNOK around 10.30 by year-end,” according to analysis in Danish bank Nordea’s Norwegian krone forecast. Norwegian kroner have denominations from one single krone to a bank note worth 1,000 Norwegian kroner. There are a total of 4 different coins (1 NOK, 5 NOK, 10 NOK and 20 NOK) and 5 different bank notes (50 NOK, 100 NOK, 200 NOK, 500 NOK and 1,000 NOK) that are all used. The Norwegian krone is the 14th most-traded currency in the world based on value, and it is highly correlated to other currencies. The value of the krone against other currencies such as the US dollar and euro varies considerably from year to year, and it is mainly affected by changes in interest rates and oil prices in the global market.

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The standard was suspended in 1931, but Norway continued holding the union’s gold reserves. Banks often advertise free or low-cost transfers, but add a hidden markup to the exchange rate. Wise gives you the real, mid-market, exchange rate, so you can make huge savings on your international money transfers. In 1877, Norges Bank introduced notes for 5, 10, 50, 100, 500, and 1000 kroner. In 1917, 1 krone notes were issued, and 2 kroner notes were issued between 1918 and 1922.

Convert NOK to Other Currency Units

According to The Economist’s popular “Big Mac” Index, as of June 2022, the cost of a Big Mac in Norway averaged out to 62 krone in 2022, a figure equal to about $5.15 U.S. dollars. This is the second most expensive Big Mac in the world, just behind Switzerland. Norway’s shipping, hydroelectric power, fishing, and manufacturing all contribute to the country’s gross domestic product (GDP). However, it is interesting to note that many industries are state-owned.

Popular Currency Pairings

The krone is subdivided into 100 øre, which came into use electronically beginning in 2012. They add hidden markups to their exchange rates – charging you more without your knowledge. They included a 50-øre coin, although this was removed from circulation in 2012.

NOK/EUR

Several countries use the U.S. dollar as their official currency, and many others allow it to be used in a de facto capacity. Check live rates, send money securely, set rate alerts, receive notifications and more. https://bigbostrade.com/ Nasdaq Inc. is planning to cut hundreds of jobs as it integrates software provider Adenza into its business — an acquisition it closed last year amid efforts to propel a new phase of expansion at the firm.

The following year, the size of the 5-øre coin was reduced; production of the denomination ceased in 1982, along with the minting of the 25 øre. In 1875, coins were introduced (some dated 1874) in denominations of 10 and 50 øre and 1 and 10 kroner. These coins also bore the denomination in the previous currency, as 3, 15, and 30 skillings and 2+1⁄2 specidaler. Between 1875 and 1878, the new coinage was introduced in full, in denominations of 1, 2, 5, 10, 25, and 50 øre and 1, 2, and 10 kroner. The 1, 2, and 5 øre were struck in bronze; the 10, 25, and 50 øre and 1 and 2 kroner, in silver; and the 10 and 20 kroner, in gold.

Following 2009, the krone once again saw strong growth, making the dollar worth about 5.8 kroner as of the beginning of 2010. Since then, the dollar has gone up further and as of October 2019 was worth about 9 kroner. During the COVID-19 pandemic, the krone fell heavily, making one dollar cost 12.00 kroner on 19 March 2020.

At the time of writing, analysts differed in their views on whether the NOK could rise against other currencies such as the EUR and USD. This emphasises the importance of doing your own research before making any investment decisions. In addition, Norges Bank announced on 31 August that it will increase its selling of NOK to buy foreign currency to NOK3.5 billion daily from NOK1.5 billion a day previously. EUR/NOK traded down to 9.99 in May 2021 and reached its high for the year of 10.56 in August. The pair fell back to 9.73 in October 2021 and ended the year around the 10 level.

The year before introduced the new 50-krone and 500-krone bills and 2017 brought the new 100-krone and 200-krone bills. But analysts at Dutch bank ING expect the Norwegian currency to strengthen in their NOK forecast and the EUR/NOK pair to trade down to 9.40 by the second quarter of 2023. world’s largest stock exchanges NOK exchange rates have also been affected by strength in the US dollar, which is trading at 20-year highs, and volatility in the euro. Norwegians and tourists visiting Norway can get banknotes at the ATMs, commonly referred to as mini-banks, which are spread throughout the country.