Norway it does not belong to the European Union and, therefore, its official currency is not the euro. In this article we talk about the Norwegian krone, the legal tender in the country, and its value compared to other currencies.
Below you have an index with all the points that we are going to deal with in this article.
Article Index
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History
In 1875 the crown appears Norway, substitute for specialist, currency in force since 1816. This is divided into 100 are, the fractional currency. In 1875, Norway adheres to the Scandinavian Monetary UnionThus, together with Finland and Sweden, set the same equivalence against the euro. This agreement was dissolved in 1914.
Throughout the XNUMXth century, the value of the Norwegian krone in relation to gold was changing. In addition, other exchange rates were introduced against the pound sterling, the dollar and, during World War II, the Reichsmark, the German currency. It is in 1992 when the fixed exchange rate is eliminated and a fluctuating one is chosen.
During all this time, different models of metallic coins are designed. In 1910, the last ones were minted in gold and in 1920 those in silver. Later, during the German occupation, cupro-nickel had to be replaced by zinc and the 1 crown coin was withdrawn.
Starting in 1963, some types, such as 1, 5 and 20 øre, were discontinued. It is in 2012 when the last existing model of are: the 50.
Current currency
Today, the Norwegian crown remains in force. The code for this is NOK and its symbol kr. In Norwegian, it is known as norske croner. The issuer of this currency is the Bank of Norway.
The metallic coins in use today are the 1, 5, 10 and 20 crowns. The first two are made of cupro-nickel while the last two are made of nickel bronze.
As for banknotes, there are 50, 100, 200, 500 and 1.000 crowns in circulation. As of May 30, 2017 and until 2019, the old models began to be replaced by new ones.
These new designs are more protected against forgeries. As you can see in the following image, in each of them there are images related to the sea. For example, in the 100 crowns a lighthouse appears and in the 1.000 the swell:
Exchange rate
This is the value of the Norwegian krone compared to other major currencies in Europe and America:
- NOK 1,00 = € 0,10 (EUR)
- NOK 1,00 = 0,12 US dollars (USD)
- 1,00 NOK = 80,02 Chilean pesos (CLP)
- NOK 1,00 = 2,24 Mexican pesos (MXN)
- NOK 1,00 = 0,38 peruvian soles (PEN)
- 1,00 NOK = 5,59 Dominican pesos (DOP)
- 1,00 NOK = 1,85 Argentine pesos (ARS)
- NOK 1,00 = 0,87 Guatemalan quetzals (GTQ)
- NOK 1,00 = 0,09 pounds sterling (GBP)
- 1,00 NOK = 343,20 Colombian pesos (COP)
- NOK 1,00 = SEK 1,04
If you are going to travel to Norway and want to exchange money, you can do so at any exchange office, at some tourist offices or by withdrawing money from an ATM. In addition, you can also request it at a bank in your own country.
However, in Norway cash is being used less and less and most people pay with card. Even so, some stores do not accept foreign credit cards, but they do accept debit cards.
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