Currency Information on Norwegian Krone - NOK — Norwegian krone – Kr
The currency of Norway subdivides into 100 ore, however the ore only exist electronically. The krone replaced the Norwegian specidaler at a 4kr:1s ratio in 1875, when Norway became part of the Scandinavian Monetary Union.
Over time, the krone has been pegged to the British pound, the US dollar, the Reichsmark and finally, to the pound again. Now the exchange rate is floated.
Coins in denominations of 1, 5, 10 and 20 krone are available, as well as banknotes in denominations of 50, 100, 200, 500 and 1000 kr, though the 1000 kr notes is not used regularly.
We are an international business and work with companies around the world, especially California in the US and Australia. Our providers are based in different countries so we need to be constantly up to date about the current foreign exchange rates. Otherwise, we would be wasting money during the currency transfer process and obviously this is not what a business wants.
Comment written by Victoria Brown Wine Industry.
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