Euro vs. Norwegian Krone •EURNOK•



EURNOK is the abbreviation for the cross between the euro and the Norwegian krone. The EUR and the NOK are considered an exotic currency pair with less liquidity than a major like EUR/USD. Because of the geographic proximity and the high degree of trading activity between Eurozone and Norway, there is a strong relation between the NOK and EUR currencies. Norway primarily depends on exports and is the fifth largest oil exporter in the world. It sends more than 60% of its exports into the euro area, so it is tied to the health of the Eurozone economy as well as oil prices.

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