Weaker ‘krone’ due to strengthen

Norway’s krone has been losing value against the US dollar during the past week, at odds with predictions earlier this summer. Analysts now blame uncertainty generated by US President Donald Trump’s trade wars, a stronger dollar and the summer holidays. One US dollar cost NOK 8.23 on Wednesday afternoon, compared to just NOK 6 and […]

Krone expected to rise against dollar

Norway’s central bank refrained once again from raising interest rates on Thursday but now states that it’s “likely” to do so in September. That in turn can boost the value of the country’s currency, the krone, which already is expected to strengthen significantly against the US dollar next year. Newspaper Dagens Næringsliv (DN) was even […]

Italian unrest hits Norway’s ‘krone’

Oil prices have been rising and Norway’s economy is surging ahead, but that hasn’t made the Norwegian krone stronger, as might be expected. It weakened considerably against the US dollar on Tuesday, with analysts blaming political unrest in Italy that’s hit the euro, and even a weaker krone in neighbouring Sweden. It cost more than […]

Rate firm as krone, housing perk up

Norway’s central bank kept its key lending rate unchanged as expected, at its record low level, amidst news that Norway’s housing market is stronger than previously thought. Interest rates aren’t expected to rise until later this year, but the country’s currency is already strengthening. There was a rush of economic news even before the executive […]

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 […]