Forex News

The Norwegian currency climbed today versus most of 16 main traded currencies after the nation’s central bank rose its benchmark interest rate surprising analysts and attracting traders to krone-priced assets.

The Norges Bank contradicted most of forecasts today raising by a quarter-point its interest rates to 1.75 percent alleging it should prevent the Nordic economy to overheat, as the inflation is near the central bank target of 2.5 percent. Norway’s central bank decision affected traders positively and the krone advanced versus the euro and the dollar.

EUR/NOK closed at 8.3705 from a much higher opening rate of 8.4745, falling more than 1 percent today.

If you want to comment on the Norwegian krone’s recent action or have any questions regarding this currency, please, feel free to reply below.

Earlier News About the Norwegian Krone:

• Norwegian Krone Down Despite Central Bank Optimism (2009-10-28)
• Norwegian Krone Down on Faltering Stocks (2009-10-15)

This entry was posted on Wednesday, December 16th, 2009 at 10:57 pm and is filed under Norwegian Krone. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.