Norwegian krone (NOK)

There's a lot to like about life in the land of fjords, where the standard of living is among the highest in the world. Along with its great scenic beauty, Norway is also rich in natural resources and is the world’s third largest oil exporter. Use the information, data and insights below to make educated and timely decisions regarding the NOK.

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Norwegian krone (NOK)

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HISTORICAL EXCHANGE RATES

Key Indicators

This data may be used to help gauge the health of the Norwegian economy.

Consumer Price Index (CPI)
Year-on-Year, as of 04/14
2.00%
Gross Domestic Product (GDP)
Year-on-Year, as of 05/13
170.00%
Current Account Balance (BoP)
Reported 03/14, as of Q4
80.5B
Official Foreign Reserves
As of 04/14
377.29B

Our NOK Insights

Review the latest list of pros and cons for diversifying in the NOK as researched by our foreign currency experts.

The Pros

  • Saves almost all state revenue from oil and gas production
  • World’s largest sovereign wealth fund valued at $820B
  • Unemployment rate reported at 3.3% as of 11/2013
  • GDP expanded by .7% Q3 2013 over Q2 2013

The Cons

  • NOK depreciated 8.37% versus the U.S. dollar in 2013
  • Consumer confidence decreased to 17.6 in Q4 2013
  • Personal Savings (Households Savings) decreased to 21429 NOK Million in Q3 2013*

*Personal Savings (Households Savings) is most often referred as the ratio of household income saved to household net disposable income in certain period of time. It can also indicate the total value of savings deposits in the economy.

Last updated: 02/2014


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