NOK To USD: Convert Norwegian Krone to United States Dollar
If you’re paying with your credit or debit card, it’s almost always cheaper to opt to pay in Norwegian Kroner instead of your home currency. A 1 kr theoretically isn’t the smallest denomination of Norwegian money. However, it’s really rare to see https://1investing.in/ prices that aren’t whole numbers in Norway. So rare, in fact, that øre only exists electronically nowadays. Debit and credit cards are accepted almost everywhere, and many places also accept payment by phone, like Google Pay and Apple Pay.
But it is still a good idea to have a bit of cash on you for small purchases. Foreign currency is rarely accepted, so you need Norwegian currency to get by. Create a chart for any currency pair in the world to see their currency history. These currency charts use live mid-market rates, are easy to use, and are very reliable.
This document may contain certain statements deemed to be forward-looking statements. Such statements are subject to a number of assumptions, risks, uncertainties, many of which are beyond SSGA’s control. Please note that any such statements are not guarantees of any future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. We are negative on the franc over both the tactical and strategic horizons. It is the most expensive G10 currency per our estimates of long-run fair value.
Top currency pairings for Norwegian krone
Wise gives you the real, mid-market, exchange rate, so you can make huge savings on your international money transfers. We see risks in the Australian dollar tilted to the downside as we see rising risks to global growth and equity market performance later this year and into 2024. China is unlikely to provide meaningful support for global growth, and Australia. Our current small positive bias is only over the near term. We continue to see medium-term risks due to the recent slowdown in growth data and the krone’s high beta to equity market risk during this highly uncertain macro environment.
- Currency Risk is a form of risk that arises from the change in price of one currency against another.
- Please note that any such statements are not guarantees of any future performance and that actual results or developments may differ materially from those projected in the forward-looking statements.
- These are the highest points the exchange rate has been at in the last 30 and 90-day periods.
- However, it’s really rare to see prices that aren’t whole numbers in Norway.
- Tactically, we shift from neutral to slightly positive on the NOK as it appears oversold relative to the recent strength in oil prices.
Wise is a Money Service Business registered with FinCen. In other states, the program is sponsored by Community Federal Savings Bank, to which we’re a service provider. The U.S. dollar is the currency most used in international transactions. Several countries use the U.S. dollar as their official currency, and many others allow it to be used in a de facto capacity. Assets may be considered “safe havens” based on investor perception that an asset’s value will hold steady or climb even as the value of other investments drops during times of economic stress. Perceived safe-haven assets are not guaranteed to maintain value at any time.
Convert from United States Dollar (USD) to Norwegian Krone (NOK)
Despite our longer-term bear market thesis, it is hard to argue against the US dollar at the moment. It is both a defensive and high-yielding currency, while the US economy is holding up better than most – a very attractive trio of factors for the dollar against the backdrop of a fragile world. This is especially true, heading into September, which typically brings higher level of equity market volatility. The high-growth, high-yield, safe-haven USD was the big winner in August, while the risk-sensitive NOK led the downside despite stronger oil prices. Tactically, we shift from neutral to slightly positive on the NOK as it appears oversold relative to the recent strength in oil prices. Nothing contained in or on the Site should be construed as a solicitation of an offer to buy or offer, or recommendation, to acquire or dispose of any security, commodity, investment or to engage in any other transaction.
Keep an eye on your coins and try to spend them all before the end of your trip. It’s much harder to convert them back into your home currency compared to banknotes. Just in case you do need to use cash during your trip, here’s what you need to know. 10 NOK is currently around 1 Euro or 1 US Dollar, which is a pretty easy conversion rate to remember! Simply remove a zero from the price in NOK, and that’s your price in USD/EUR. I recommend taking around 800 NOK with you to Norway as an emergency fund.
Popular Norwegian Krone (NOK) Currency Pairings
Like I said earlier, the lowest denomination of Norwegian currency you can get in cash is 1 kr, which comes as a coin. Other coins are in circulation for 2, 5, 10 and 20 kroner. Banknotes are available in denominations of 50, 100, 200, 500 and 1000 kr. I always download the XE Currency app, and it’s super handy when travelling to Norway!
Our models are neutral on the Canadian dollar, with improved oil prices offsetting modest softening in economic data and sluggish relative Canadian equity market performance. Our view of the British pound is increasingly negative in response to the decelerating economic data, persistently high inflation, and poor UK equity market performance. We expect the Bank of England (BoE) to raise rates again at its September meeting and probably at least one more time by year-end .
The list below shows average prices in March 2023 and are subject to change. Post offices and some grocery shops or supermarkets do not accept foreign credit cards, although they happily take debit cards. All persons and entities accessing the Site do so on their own initiative and are responsible for compliance with applicable local laws and regulations. The Site is not directed to any person in any jurisdiction where the publication or availability of the Site is prohibited, by reason of that person’s nationality, residence or otherwise.
Growth data continues to soften, inflation is rolling over, and, aside from the yen, the franc has the lowest yields in the G10. In the longer term, we think Canadian growth will remain competitive and the Canadian dollar looks cheap in our estimates of fair value relative to the euro, the Swiss franc, and the US dollar, creating room for further upside. Our currency rankings show that the most popular US Dollar exchange rate is the USD to USD rate. Our currency rankings show that the most popular Norwegian Krone exchange rate is the NOK to USD rate.
The products and services described on this web site are intended to be made available only to persons in the United States, and the information on this web site is only for such persons. This communication is directed at professional clients (this includes eligible counterparties as defined by the “appropriate EU regulator”) who are deemed both knowledgeable and experienced in matters relating to investments. The products and services to which this communication relates are only available to such persons and persons of any other description (including retail clients) should not rely on this communication. Our long-run valuation model suggests that the pound is cheap. However, low productivity growth and high inflation are pushing fair value lower, which is on pace to trend down to the lower 1.30s against the US dollar over the next few years.
Convert from Norwegian Krone (NOK) to United States Dollar (USD)
Then, provided you have a travel debit or credit card that doesn’t charge you for foreign withdrawals, you can pay with card for everything else. Norway does not officially use the Euro, and the Euro is not legal tender or accepted as payment in most places in Norway. The singular krone is the smallest denomination you can get in physical money, and it’s a coin.
You will find cash machines in towns and cities, and in most rural areas there will be at least one place where you can withdraw money, such as at a kiosk, grocery shop, or petrol station. According to travel search site Momondo, the average price per night for a room is NOK 1855, but prices vary greatly according to season, location, comfort level, and the facilities available. The krone was introduced in 1875, when Norway joined the Scandinavian Monetary Union. The coins and banknotes are distributed by the Central Bank of Norway. The Xe Rate Alerts will let you know when the rate you need is triggered on your selected currency pairs.
The krone is historically cheap relative in our estimates of fair value and is supported by steady potential growth. Beware of bad exchange rates.Banks and traditional providers often have extra costs, which they pass to you by marking up the exchange rate. Our smart tech means we’re more efficient – which means you get a great rate. In the longer term, the Australian dollar outlook is mixed. It is cheap vs. the US dollar, the British pound, the euro, and the Swiss franc, and has room to appreciate, but is expensive against the yen and the Scandinavian currencies. In August, we shifted from neutral to modestly negative on the krona on a weaker economic outlook and poor local equity market performance.
The pound is still cheap at those levels, but UK’s cyclical weakness and falling long-run pound fair value make for a tough outlook for the BoE and the currency into 2024. We confidently believe that the next big, sustained move in the dollar is lower – a broad decline of 10%–15% – but it appears early for that now. It is hard to argue against a defensive currency with high yields and strong growth in a world fraught with macro fragilities. We expect relative US growth and yields to converge lower with the rest of the world over the course of 2024 and that process may begin over the next few months.
The Norwegian currency is called kroner (currency code NOK) which is sometimes mistranslated into “crowns” in English. But whatever we call our money, cash is no longer king in Norway, and almost all establishments now accept electronic payment by card or phone. We give you the real rate, independently provided by Reuters.
The timing of these factors requires patience and tolerance for additional yen weakness. Nevertheless, we believe it makes sense to build a long-yen bias now, particularly as any further material weakness incentivizes another round of government intervention to support the yen. Norges Bank’s exchange rates are middle rates, i.e. the mid-point between buying and selling rates in the interbank market at a given time. The exchange rates are only intended to serve as an indication, and are not binding on Norges Bank or other banks. Check live rates, send money securely, set rate alerts, receive notifications and more.
We maintain our neutral to slightly negative view on the euro in response to the steady stream of weaker economic data surprises and rising stagflation risk. Any return of pessimism and equity volatility over the next few months would likely support the euro vs. higher-beta currencies as we saw in August, but a broad euro upside appears unlikely in the near future. Just learn financial edge the exchange rate before you go, pack a credit card that allows for international transactions without fees, and you’re probably good to go. You can send a variety of international currencies to multiple countries reliably, quickly, and safely, and at a rate cheaper than most banks. These are the average exchange rates of these two currencies for the last 30 and 90 days.
The yen is likely to struggle in the near term, given its negative short-term interest rates. But we see risks skewed toward a yen recovery later this year and through 2024. The yen is very cheap, and we expect global yields to turn lower, along with a period of severely below-trend global growth as we head into next year. This supports yen strength via improved yield differentials and safe-haven demand.
It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor’s particular investment objectives, strategies, tax status or investment horizon. Investing involves risk including the risk of loss of principal. All material has been obtained from sources believed to be reliable. Eventually, likely in 2024, Swedish and global inflation will be under control and the economy will begin a more durable recovery. Once that happens, the historically cheap krona has substantial room to appreciate back toward its long-run fair value on a sustained basis.
There may be a couple of tours or very touristy attractions that accept Euros, but I didn’t come across any on my trip to Oslo. Therefore, if you’re looking to pay for things in Euros in Norway it’s best to book them online. Some people joke that the reason the prices are in kroner and not Euros is so that you don’t realise how much you’re spending (Norway is an expensive country after all). Actually, though, the Norwegian kroner has been in use since 1875, so it pre-dates the Euro by a long way.