Norwegian crown

The Norwegian crown ( norsk krone in Norwegian) (krone, NOK ) according to the standard ISO 4217 is the national currency of the kingdom of Norway since its independence in 1905. The crown is divided into 100 øre.

Foreign exchange rate compared to the Euro

The Norwegian crown is a hard currency whose course is in rise particularly thanks to the production of oil. The convertion rates on July 25th, 2007 are indicated below.

1 EURO = ± 7,9538 NOK,
1 NOK = ± 0,1257 EURO

History of the Norwegian crown

The Norwegian Royal Currency (Den Kongelige Norske Mynt) is installed in Kongsberg in 1686 and strikes the Norwegian coins since then.

Whereas Norway was plain with the kingdom of Sweden, the Norwegian government decides, by a monetary act of June 4th, 1873, the creation of a new monetary unit, the crown (krone) and its division (øre), simultaneously with the currencies in circulation to pave and skilling . By the law of April 17th, 1875, the Norwegian crown replaces the old units and thus prepares the entry of the kingdom of Norway (KONGERIKET NORGE) in the Scandinavian Monetary Union (Skandinaviske myntunion), created on May 5th, 1873 by the kingdoms of Sweden and Denmark. Since 1887 the first series (I) of and coin banknotes appears in Norwegian crowns.

When in 1905, Norway becomes independent, it preserves its monetary unit, but replaces its series I of tickets by a new series (II) which will be démonétarisée only after the Second world war. The Scandinavian Monetary Union, dying woman after the first world war, will be definitively repealed only in 1972.

At the end of the second war, a monetary reform was installation in September 1945 to recover the big number of tickets put in circulations by the German authorities and to thus prevent inflation.

In 1946, Norway will join the system set up by the Accords of Bretton Woods of fixed ratio of exchange (1 GBP = 20 NOK and 1 USD = 4,03 NOK). During the bankruptcy of the system, in 1971, the Norwegian crown started to float after a light devaluation.

In 1972, Norway will join the European snake. In 1978, Norway leaves the European system and keeps its floating currency. From 1990 to 1992, the crown is related to the ECU, then fleet again since.

In 2003, the Norwegian Royal Currency was resold with the Currency of Finland and became the Norwegian Currency (Norske Myntverket).

Norwegian coins

Haakon VII (1905-1957)

The series of the post-war period

the part (1952-1957) of 1 bronze øre
the part (1952-1957) of 2 bronze øre
the part (1952-1957) of 5 bronze øre
the part (1951-1957) of 10 cupronickel øre
the part (1952-1957) of 25 cupronickel øre
the part (1953-1957) of 50 cupronickel øre
the part (1951-1957) of 1 cupronickel crown

Olav V (1957-1991)

The first series of parts

the part (1958-1972) of 1 bronze øre
the part (1958) of 2 bronze øre
the part (1959-1972) of 2 bronze øre
the part (1958-1972) of 5 bronze øre
the part (1958) of 10 cupronickel øre
the part (1959-1972) of 10 cupronickel øre
the part (1958-1972) of 25 cupronickel øre
the part (1958-1972) of 50 cupronickel øre
the part (1958-1972) of 1 cupronickel crown
the part (1963-1972) of 5 cupronickel crowns

The second series of parts

the part (1973-1991) of 5 bronze øre
the part (1974-1991) of 10 cupronickel øre
the part (1974-1991) of 25 cupronickel øre
the part (1974-1991) of 50 cupronickel øre
the part (1974-1991) of 1 cupronickel crown
the part (1974-1991) of 5 cupronickel crowns

Harald V (1991 -)

The series of parts was completely re-examined in 1998

the part of 50-øre
the part of 1 crown
the part of 5 crowns
the part of 10 crowns
the part of 20 crowns

The badge of the Norwegian Currency, a hammer of minor, is struck all the coins.

Norwegian banknotes

The tickets and the parts are emitted by the Norwegian bank (Norges Bank).

The tickets of series VII are in circulation:

1000-krones (Edvard Munch), in progress since June 19th, 2001
500-krone (Sigrid Undset), in progress since June 7th, 1999
200-krone (Kristian Birkeland), in progress since 1994
100-krone (Kirsten Flagstad), in progress since September 15th, 1997
50-krone (Peter Christen Asbjørnsen), in progress since February 20th, 1997

External bonds

(english) http://www.norges-bank.no/english/notes_and_coins/
(english) http://www.dkm.no/english.asp?uid=45&CID=45

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