Norway’s Krone Falls on Central Bank Warning
The Norwegian krone slid today versus the world’s main traded currencies, as the nation’s benchmark interest rates were maintained on hold by the nation’s central bank, and are unlikely to be raised as soon as speculators hoped.
The krone fell today versus the euro and the U.S. dollar as the Norges Bank stated that a strong currency will delay eventual rate hikes, forcing the Nordic currency down after the crude oil, one of the country’s main exports, also declined globally.
USD/NOK traded at 5.8685 as of 20:51 from an opening rate of 5.8360 this Wednesday.
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 Tumbles as Commodities Rally Slow Down (2010-01-12)
- Norwegian Krone Falls From 16-Month High (2010-01-08)
- Norwegian Krone At 12-Month High Versus Euro on Oil (2010-01-04)
- Surprise Rate Hike Pushes Norway's Krone Up (2009-12-16)
- Norwegian Krone Down Despite Central Bank Optimism (2009-10-28)
