NOK/SEK represents the currency pairing for the Norwegian Krone and Swedish Krona. The Norwegian krone was introduced in 1875 when Norway joined the Scandinavian Monetary Union. Krone exchange rate is influenced by factors such as the oil price and turbulence in international financial markets. Due to their geographical proximity, there is a strong relation between the NOK and SEK currencies. The currency pair is not traded as much, outside of Norway and Sweden. The performance of the NOKSEK is heavily influenced by the correlation between the economies of Norway and Sweden. Spreads and volatility of trading this pair against the more popular currencies can be an advantage for those looking to diversify their portfolio.