thumb|400px|right|The cost of one euro in Norwegian krone (from 1999) The value of the Norwegian krone compared to other currencies varies considerably from one year to another, mainly based on changes in oil prices and interest rates. In 2002 the Norwegian krone grew to record high levels against the United States dollar and the euro. On 2 January 2002, 100 kroner were worth US$11.14 ($1 = 8.98 kroner). In July 2002, the krone hit a high at 100 kroner = $13.7 ($1 = 7.36 kroner). In addition to the high level of interest, which increased further on 4 July 2002, to 7 percent, the price of oil was high. At the time Norway was the world's third largest oil exporter.
thUMB|400PX|RiGht|tHE cost oF one euRo in norwEgiaN krONE (fROm 1999) thE VALue of the NoRwEgiAn KrONe ComPareD tO other curReNcieS varIes cONsidErabLy from onE yeAr To AnotHER, mAiNLy bASEd On chANgeS in OIl Prices and iNteREst ratEs. in 2002 The norWEGian KrOne grew to reCoRD hIgh lEvels againSt the unItEd stAtEs DollaR And tHe Euro. on 2 JaNuaRy 2002, 100 kronEr Were WorTh us$11.14 ($1 = 8.98 kronEr). In july 2002, the kroNe hIt a higH at 100 Kroner = $13.7 ($1 = 7.36 kroneR). iN addition to tHE hIgH LevEl of InTerest, wHICH increAsEd furtheR oN 4 july 2002, to 7 pERceNT, ThE price of Oil was HiGh. at tHe TiMe nOrway waS the wORld's tHird LaRgest oiL exporteR.