Trading of complex financial products, such as Stocks, Futures, Foreign Exchange (‘Forex’), Contracts for Difference (‘CFDs’), Indices, Options, or other financial derivatives, on ‘margin’ carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any of these markets you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading these markets, and seek advice from an independent financial advisor if you have any questions or doubts. Please carefully read our full ‘General Risk Disclosure’ and ‘Risk Disclosures for Financial Instruments & Investment Services’.

NOK - Norwegian Krone

Norway, Krone

NOK - Norwegian Krone

The Norwegian Krone also known as the krone is the official currency of Norway and its dependent territories of Svalbard, Bouvet Island, Queen Maud Land and Peter the First Island. The word krone translates into "crown" in English. It is denoted as NOK, and its currency symbol is "kr." It is subdivided into 100 øre, which exist electronically since 2012. The krone was originally introduced in 1875 when Norway joined the Scandinavian Monetary Union (alongside Denmark and Sweden), replacing the Norwegian speciedaler/spesidaler. Following the adjournment of the Union in 1914, the member countries decided to use their separate currencies.

The most active pair to trade the Norwegian currency is the US dollar and the Krone, USDNOK. The Norwegian Krone is issued and distributed by the Norges Bank - Central Bank of Norway. The coins come in denominations of 1kr, 5kr, 10kr and 20kr while the banknotes are in values of 50kr, 100kr, 200kr, 500kr and 1000kr. The krone has been a floating currency since 1992 and is heavily influenced by oil prices considering it's the third-largest exporter of oil in the world market. It is also affected by interest rates set by the Central Bank. Further, Norway's economy is largely dependent on trade relations with the UK and the Euro-zone.

NOK Pairs

Trade Forex, Commodities, Precious Metals, Energies and Equity Indices from 1 Account.