Countries that use the NOK
Currency Exchange Rates for Norwegian krone? Convert GBP to NOK at todays exchange rate. See money transfer for Norway and historical to restrictions.
NOK is the currency used in Norway and is referred to as Norwegian Kroner. The Norwegian Kroner has no nickname.
Name of Central Bank
The central bank of Norway is called Norges Bank.
The Norwegian Kroner inflation rate as per the consumer price index stands at 2.5%.
Spelling and capitalization
The currency used in Norway is written as Norwegian Kroner.
Use of Norwegian Kroner outside Norway
The Norwegian Kroner is only used in Norway unlike before when it could be used across the Scandinavia.
Exchanging currency in Norway
You can exchange your currency into Norwegian Kroner or the reverse from a number of companies which include; Rational FX, Currency Solutions, Online FX, OrbitRemit, Danske Bank. These companies are all FCA regulated. They provide efficient, safe and reliable funds transfer offering a margin of between 0.7%-5% in the transactions.
In most banks when you are exchanging currency, you will need your passport. If you do not have this with you, then the bank may refuse to exchange your currency.
Converting from GBP pounds to Norwegian Kroner
From the banks and exchange bureaus, one can comfortably change their British Pounds into Norwegian Kroner. The current exchange rate is 1 GBP = 10.4014 NOK.
Meaning of GBP to Norwegian Kroner
This refers to the exchange rate from a British Pound to Norwegian Kroners.
Sign for the Norwegian Kroner
The sign for this currency is kr.
Stability of the Norwegian Kroner
The Norwegian Kroner is one of the most stable currencies in the world. This is due to the following factors:
-Norway's central bank has one of the highest capital ratios in the world.
-The government of Norway has zero net debt.
-The Norwegian Kroner is not pegged on any other currency.
Main currencies in use
The major currencies in the world that include the US dollar, Euro and British Sterling Pound are mainly used. This is because Norway is a member of the EU nations and these currencies are largely acceptable.
Currency Information on Norwegian Krone - NOK — Norwegian krone – Kr
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.
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.
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