Currency of Norway

The currency of Norway is called krone. It is usually denoted as kr and its code is NOK. But locally it is written as kr. It is translated in English language as crown. Norges bank is the central bank for the publishing of Krone. Krone is classified as the 30th most important and most traded currency in the world two years ago. Norwegian speciedaler was the old currency of Norway however in 1875 krone replaced it. It is also used in the adjacent states of Norway.

The coins of krone are available in the form of 1, 5, 10 and 20 krone while banknotes are in the form of 50, 100, 500 and 1000 banknotes. Nowadays 50 krone coin has been restricted by the government. Krone has an important place in the most important currencies of the world. The economy of Norway fluctuates from good to normal and depends mainly on business in variety of fields. However, on the contrary the standard of living in Norway is relatively better and higher than the European countries. The rate of 1US dollar is 5 NOK in passing year. However, with the degradation of US dollar NOK rate is increasing day by day.

Norway Currency Krone