Oil and krone fuel thousands of jobs

Norway has suddenly found itself enjoying the economic effects of stronger oil prices and its weaker currency, the krone (crown). Just three years after the Norwegian economy went into crisis mode, when oil prices collapsed, a recent economic paradox is now expected to create thousands of new jobs in 2018 despite another fall in the […]

Hint of higher rates boosts the ‘krone’

UPDATED: Norway’s krone has been through another period of extreme weakness during the past week, but it gained strength on Thursday. The boost came after the country’s central bank hinted that it may raise interest rates sooner than expected, and then that rates may rise faster. Norges Bank’s Executive Board decided to once again keep […]

Krone falls further against the dollar

It cost as much as NOK 8.32 to buy one US dollar on Monday, after the Norwegian krone fell to its weakest point since the finance crisis. Higher oil prices are no longer enough to keep the oil-producing country’s currency strong. The krone has been weak all autum and especially the past few weeks. Analysts […]

Krone’s latest dive ‘unique, strange’

Norway’s currency, the krone, has been caught in another puzzling downward spiral this week that’s left analysts groping for explanations. Despite more positive economic indicators, the Norwegian krone fell to one of the lowest levels ever against the euro on Wednesday and remained weak on Thursday. After trading at an already relatively weak level of […]

Analysts puzzled over krone’s dive

The value of Norway’s currency, the krone, has taken a dive just during the past 24 hours. The US dollar in particular has become much more expensive, in relative terms, and both economists and analysts are having trouble explaining why. “What’s happening?” asked the chief economist at Nordea Markets, Kjetil Olsen, in his report on […]

Stronger ‘krone’ aids Norwegians on holiday

For the first time in nine months, it’s been costing less than eight Norwegian kroner to buy one US dollar this week. The stronger krone is thus making holidays abroad slightly less expensive for Norwegians, but more expensive for foreign tourists in Norway. The krone has been growing steadily stronger this summer, after oil prices rose […]

Norway’s ‘krone’ sails strongly ahead

Norway’s now-decorative currency, the krone, is getting stronger along with the country’s economy. It’s risen considerably against the US dollar and other key currencies just in the past few weeks, and economists predict that will continue. “Things have been going much better (in the Norwegian economy) than expected,” economist Erik Bruce, chief analyst for Nordea Markets, […]

Krone weakens on lower oil prices

Norway’s currency, the krone, has weakened considerably against the US dollar in the past several days. Analysts mostly blame lower oil prices, but one Norwegian economist notes that the inflationary effects of a weaker krone are now mostly “behind us.” The price of a barrel of Norway’s North Sea Brent crude oil remained low on Monday, at USD […]

One US dollar may soon cost NOK 10

Even though oil prices have been creeping upwards and Norway’s krone has strengthened a bit, at least one currency exchange strategist thinks the recovery is short-lived. By the end of the year, he thinks the US dollar will be so strong that it will cost as much as NOK 10. That would be up from Monday’s […]

Krone strengthens on stable rates

Norway’s volatile currency, the krone, immediately strengthened against the US dollar and other currencies Thursday morning, after the country’s central bank opted against lowering interest rates once again. Norges Bank’s key policy rate was kept at the still record-low level of 0.75 percent. Thursday’s krone rebound came after a rollicking night during which it had weakened considerably […]