The Norwegian krone is lower on the Forex market today, thanks in large part to a rate cut. Norges Bank cut interest rates for the first time since 2009, and the move is an indication that the economic situation in Norway may not be very strong.
Norwegian Krone NOK
Detailed information and fundamental factors
Central Bank: Norges Bank
Interest Rate: 1.75%
Public Debt to GDP Ratio, 2010: 49.7%
Trade Balance, 2010: $58.4 bln.
Inflation, 2010: 2.5%
Supporting Factors
Major commodity exporter
weak
Factors of Weakness
Dependence on the eurozone
Norwegian Krone News Archive
Norway Krone Falls as Central Bank Intervenes
November 01st, 2011 at 11:58
Norwegian Krone
The Norway krone declined today after the Norway central bank announced its plans to purchase foreign currency, weakening the nation’s currency.
Norwegian Krone Benefits from Anticipation of Higher Rates
May 12th, 2011 at 9:28
Norwegian Krone
The Norwegian krone gained today on the forecast that the nation’s central bank will raise its interest rates today to slow the fast credit growth.
Norwegian Krone Boosted by Prospect of Higher Interest Rates
The Norwegian krone rose today on the speculation that the policy makers will speak about increasing of the interest rates at today’s meeting.
NOK Falls as Government Concerned About Currency’s Strength
March 03rd, 2011 at 17:30
Norwegian Krone
The gains of the Norwegian krone caused the concerns that the stronger currency will hurt competitiveness of the nation’s exporters. The currency fell today after it sharply advanced on the previous trading session.
Norwegian Krone Declines on Manufacturing & Crude Oil Prices
February 07th, 2011 at 21:30
Norwegian Krone
The Norwegian krone weakened today, posting the fourth day of losses versus the US dollar, after the report showed that the manufacturing expanded less than was predicted and as the crude oil prices declined.
Norwegian Krone Erases Losses on Positive Outlook for Economy
January 03rd, 2011 at 14:40
Norwegian Krone
The Norwegian krone slumped at the start of today’s trading session, but was slowly rising after that on the anticipation for the Norwegian policy makers to shield the nation from the problems in other countries.
Norwegian Krone Drops on Outlook for Interest Rates
Norway krone fell today as the central bank would refrained from increasing the interest rates and on the speculation that the bank would slow the monetary tightening in the future.
Outlook for Interest Rates Hike Boost Norwegian Krone
September 22nd, 2010 at 22:02
Norwegian Krone
The Norwegian krone jumped today to the highest level since April as the bets on the future interest hikes increased after Norway’s central bank expressed desire to increase the rates to the ”more normal level”.
Norway’s Krone Falls on China’s Reserve Requirements
February 13th, 2010 at 6:07
Norwegian Krone
The Norwegian currency ended this week losing versus the euro and the dollar, after the crude oil rally that fueled the krone’s advance during most of this week’s session lost strength, since risk aversion returned to trading markets this Friday with a new Chinese restrictive lending policy announcement.
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