When asked about what currency in Norway today, it immediately recalls the location of this country. If Norway is in Europe, then the currency should be the euro. But this is not so. Norway has abandoned the single currency of the Old World and continues to maintain its national currency called the Norwegian krone.
What money to take to Norway?
The banking system in this Scandinavian country is very well developed. Even in the smallest town you will receive a currency card with amazing simplicity. There are also no tangible problems with currency exchange. You can do this at any ATM, but the fee charged is quite impressive 5% of the total amount of the exchange, or at least $ 5. If you listen to people who have already been to Norway, they say that for the first time it is better to take a certain amount of Norwegian kroner with you, and already exchange the rest of the amount there.
About the work of banks in Norway
Some banks in Norway work only in the morning, but you will encounter this inconvenience if you decide to go to some zone that is not very saturated with tourists. In tourist areas, the Norwegian currency can be purchased and exchanged between 8 a.m. and 11 p.m. on weekdays. If you intend to purchase Norwegian kroner on a day off, then it is better to do this before five in the evening, since after this time all banks are closed. In order to find the best rate for yourself, and even with a minimum commission, which does not happen below 2% of the amount of exchange, you need to try very hard. The most favorable currency exchange conditions at ATMs located at airports or seaports of the country.
What currency is denomination in Norway?
1 Norwegian krone is not the smallest monetary unit in the country, because there is also an era. 100 era make up one Norwegian krone. Today in circulation in Norway there are several denominations of coins and banknotes. Among them - coins in denominations in the 10th and 50th era, as well as 1, 5, 10 and 20 Norwegian kroner. As for banknotes, a banknote of 1000 kroons is of greatest importance. In addition to it, there are also notes of 50, 100 and 500 Norwegian kroner. Plastic cards are very popular with both residents and tourists. They are very easy to use, if only because practically at every point in the country they can serve you through a card.
History of the Norwegian Krone
If we talk about the first monetary currency that appeared in Norway, then we should go back to the seventh century, when the first coins were used in everyday life. But the national currency of Norway appeared much later, only ten centuries later. In 1626, the Oslo Mint was created, and the country's first money was minted. However, sixty years later, it was decided to move the mint to Kongsberg due to the fact that there was a gold mine. The mint stood in Kongsberg until it dried up in 1957. The nineteenth century was marked by the transition to the gold exchange standard, when each produced currency of Norway was equated with the gold reserves in the treasury of the country. The Norwegian krone itself with all its inherent properties was put into circulation in 1875. As for the Norwegian Mint, in 2000 it was given the status of a limited liability company, and four years later the name “Royal Norwegian Mint” was renamed “Norwegian Mint”.
Currency in Norway. Exchange rate against other currencies
If you look at the exchange rate with respect to the Norwegian krone, you can see that the country's currency from the Scandinavian Peninsula is quite stable and does not have sharp jumps. If you track the dynamics of the Norwegian krone exchange rate to the US dollar, you can see that from 2005 to today, the Norwegian currency ranged from 14 to 20 cents. The smallest value is in 2009. Today, 10 NOK can be purchased for $ 1.54. The dynamics of the Norwegian krone exchange rate to the euro is even more stable. Over the past 9 years, the smallest value by which 10 kroons could be purchased was 1 euro, and the largest - 1.4. The Norwegian krone to the euro today is 0.121, that is, for 1.21 euros you can purchase 10 Norwegian kroner. If in relation to the euro and the dollar, the Norwegian krone exchange rate is growing, then falling, the Norwegian currency has a stable upward trend relative to the Russian ruble. So, for example, in 2005 it was possible to purchase 1 Norwegian krone for 4.5 rubles, and after 9 years you have to pay 6.2 rubles for 1 kroon. Thus, the Norwegian krone exchange rate against the ruble increased by almost 38%.
Who is depicted on Norwegian banknotes?
The Norwegian currency notes depict the great people of this nation. So, from a banknote with a face value of 50 kroons, Peter Kristen Asbjørnsen is looking at us - one of the greatest storytellers not only in Norway, but also in the whole Old World. A banknote of 100 kroons is crowned with an image of the greatest opera singer named Kirsten Flagstad. Norway is a northern country, and it could not but thank the people who studied the expanses of the north. That is why the banknote, the face value of which is 200 kroons, flaunts researcher Christian Olaf Bernhard Birkeland. The creator of the famous Scream, Edward Munch, looks at us from a banknote of NOK 1,000. Nobel laureate writer Sigret Unset is a symbol of a banknote of NOK 500.