what is the norwegian krone nok 
the norwegian krone nok is the official currency of norway 1 its regulation and circulation are controlled by the country s central bank the norges bank 2 the bank has issued its eighth series of banknotes including the latest in november 2019 which saw new 1000 krone bills the year before introduced the new 50 krone and 500 krone bills and 2017 brought the new 100 krone and 200 krone bills 34as of august 2022 1 usd is equal to roughly 9 77 nok 5 a single norwegian krone is worth 0 10 cents 6understanding the norwegian kronethe norwegian krone or kroner the plural term subdivides into 100 re the english translation for the word krone is the crown coins come in denominations of 1 5 10 and 20 krone and banknotes appear in denominations of 50 100 200 500 and 1 000 kroner the currency symbol is kr 1the new banknotes feature images of norwegian maritime history on the front while the back shows an abstract of sea and wind in the form of a cubic pattern 4 for example the 50 krone note has a green tint an image of the utv r lighthouse on the front and the back features an abstract rendition of the light signal from a lighthouse as well as a the constellation ursa major 7history of the kronethe first circulation of the krone came in 1875 when it became the replacement of the speciedaler at the time the conversion rate was four kroner for one speciedaler following the switch norway joined the scandinavian monetary union an alliance that existed until the outbreak of world war i during the existence of the union the norwegian krone on the gold standard until 1931 when it was pegged to the british pound 8in 1939 the country s currency was pegged to the u s dollar usd but during the german occupation of norway in the second world war it was pegged to the reichsmark at the war s end the currency was pegged to the british pound gbp shortly after the krone was pegged to the us dollar until 1971 when it free floats in the market for seven years until it is linked to a basket of currencies then in 1992 the central bank moved away from a fixed exchange rate allowing the currency to float based on the foreign currency exchange rate 8the 10 syrian pound so closely resembles the 20 norwegian kroner that it can fool many coin operated automated service machines in norway 9economic impact on the nok s valueas with all currencies economic trends trigger fluctuation in the value of the norwegian krone currency investors may seek out the nok when the euro s eur value is in doubt increased activity in trading the nok may increase the rate of exchange changes in the global price of crude oil also affect the nok s value as norway is western europe s leading oil exporter 10norway s shipping hydroelectric power fishing and manufacturing all contribute to the country s gross domestic product gdp however it is interesting to note that many industries are state owned 11 historically the krone is a prudent investment as norway stakes claim to one of europe s most stable economies norway is one of the wealthiest countries on the globe and enjoys one of the highest standards of living according to the latest world bank data norway has a high income economy with slow population growth at 0 5 annually gdp growth for 2021 came in at 3 9 while the inflation deflator was at 16 9 12