On 31 May, the Norwegian krone (NOK) traded at 6.12 per U.S. dollar (USD), driving the currency 6.9% lower compared to the 5.72 NOK per USD recorded at the end of April. Building on the monthly decline, the krone now trades 13.8% below the level observed in the same day last year. In contrast, amid the recent volatility in the Euro area and despite the fact that Norway has lowered interest rates by 75 basis points since December 2011, the krone strengthened versus the euro in May, trading at 7.57 per EUR by the end of the month, which is 0.2% stronger than the 7.58 NOK per EUR seen by the end of April. As a result, the krone has gained 2.3% versus the euro compared with the same day last year.
Norway Exchange Rate
Norwegian krone weakens versus dollar, rises against euro
June 1, 2012
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Norway Economic News
October 10, 2016
In September, consumer prices climbed 0.3% from the previous month, which contrasted August’s reading (-0.5% month-on-month) but undershot market expectations of a 0.7% increase.
October 7, 2016
In August, industrial production decreased 4.7% over the previous month in seasonally-adjusted terms, which contrasted the 4.7% expansion recorded in July and marked the lowest reading since April 2015.
September 22, 2016
At its 21 September policy meeting, Norges Bank (NB) decided to leave its key policy rate at the all-time low of 0.50%, as was expected by market participants. Norges Bank noted that global growth was moderate and that in the medium term import demand from its main trading partners will be lower than previously expected.
September 9, 2016
In August, consumer prices dropped 0.5% over the previous month, which contrasted July’s reading (+0.6% month-on-month) and undershot market expectations of a 0.4% drop.
September 7, 2016
In July, industrial production expanded 5.5% over the previous month in seasonally-adjusted terms, which marked a rebound from the 4.7% fall recorded in June and represented the highest reading since October 2012.