The krone [ˈkruːnə] (sign: kr; code: NOK), plural kroner, is the currency of Norway and its dependent territories. It is subdivided into 100 øre, which have existed only electronically since 2012. The name translates into English as crown.
The krone was the thirteenth most traded currency in the world by value in April 2010, down three positions from 2007.
|norsk krone (Norwegian)|
Coin denominations in circulation as of 2015, ranging from 1 kr to 20 kr
|Freq. used||50 kr, 100 kr, 200 kr, 500 kr|
|Rarely used||1000 kr|
|Coins||1, 5, 10, 20 kr|
|Central bank||Norges Bank|
The krone was introduced in 1875, replacing the Norwegian speciedaler/spesidaler at a rate of 4 kroner = 1 speciedaler. In doing so, Norway joined the Scandinavian Monetary Union, which had been established in 1873. The Union persisted until 1914. After its dissolution, Denmark, Norway, and Sweden all decided to keep the names of their respective and since then separate currencies.
Within the Scandinavian Monetary Union, the krone was on a gold standard of 2,480 kroner = 1 kilogram of pure gold (1 krone = 403.226 milligrams gold). This gold standard was restored between 1916 and 1920 and again in 1928. It was suspended permanently in 1931, when a peg to the British pound of 19.9 kroner = 1 pound was established. (The previous rate had been 18.16 kroner = 1 pound). In 1939, Norway pegged the krone temporarily to the U.S. dollar at a rate of 4.4 kroner = 1 dollar. Nonetheless, Norway would continue to hold the Kingdom's gold reserves.
During the German occupation (1940–1945) in the Second World War, the krone was initially pegged to the Reichsmark at a rate of 1 krone = 0.6 Reichsmark, later reduced to 0.57. After the war, a rate of 20 kroner = 1 pound (4.963 kroner = 1 U.S. dollar) was established. The rate to the pound was maintained in 1949, when the pound devalued relative to the U.S. dollar, leading to a rate of 7.142 kroner = 1 U.S. dollar. In December 1992, the Central Bank of Norway abandoned the fixed exchange rate in favor of a floating exchange rate (managed float) due to the heavy speculation against the Norwegian currency in the early 1990s, which lost the central bank around two billion kroner in defensive purchases of the NOK through usage of foreign currency reserves for a relatively short period of time.
In 1875, coins were introduced (some dated 1874) in denominations of 10 and 50 øre and 1 and 10 kroner. These coins also bore the denomination in the previous currency, as 3, 15, and 30 skillings and 2½ specidaler. Between 1875 and 1878, the new coinage was introduced in full, in denominations of 1, 2, 5, 10, 25, and 50 øre and 1, 2, and 10 kroner. The 1, 2, and 5 øre were struck in bronze; the 10, 25, and 50 øre and 1 and 2 kroner, in silver; and the 10 and 20 kroner, in gold.
The last gold coins were issued in 1910; silver was replaced by cupro-nickel from 1920. Between 1917 and 1921, iron temporarily replaced bronze. 1917 also saw the last issuance of 2 kroner coins. During the German occupation of Norway in the Second World War, zinc was used in place of cupro-nickel in 10, 25, and 50 øre coins, and production of the 1 krone piece was suspended.
In 1963, 5 kroner coins were introduced. Production of 1 and 2 øre coins ceased in 1972. The following year, the size of the 5 øre coin was reduced; production of the denomination ceased in 1982, along with minting of the 25 øre. Ten-kroner coins were introduced in 1983. In 1992, the last 10 øre coins were minted.
Between 1994 and 1998, a new coinage was introduced, consisting of 50 øre, 1, 5, 10, and 20 kroner. These are the only coins which are currently legal tender, with the exception of the 50-øre coin which was withdrawn on 1 May 2012. It was withdrawn because it was no longer circulating as an ordinary coin used for payment. However, banks in Norway will still exchange 50 øre coins for higher values until 2022.
|Currently circulating coins|
|Value||Technical parameters||Description||Issued since|
|1 krone||21 mm||1.7 mm||4.35 g||Cupronickel
75% Cu, 25% Ni
|Smooth||Harald V's monogram||a fowl||1997|
|5 kroner||26 mm||2 mm||7.85 g||Milled||St. Olav's Order||acanthi leaves||1998|
|10 kroner||24 mm||2 mm||6.8 g||81% Cu, 10% Zn, 9% Ni||Interrupted milling||Harald V||stave church roof||1995|
|20 kroner||27.5 mm||2.2 mm||9.9 g||Smooth||Viking ship||1994|
|For table standards, see the coin specification table.|
The 10- and 20-kroner coins carry the effigy of the current monarch. Previously the 1- and 5-kroner coins also carried the royal effigy, but now these denominations are decorated only with stylistic royal or national symbols. The royal motto of the monarch (King Harald's motto is Alt for Norge, meaning "Everything for Norway") is also inscribed on the 10-kroner coin.
Up to 25 coins of any single denomination is considered tvungent betalingsmiddel—a legally recognized method of payment, in which the intended recipient can not refuse payment, according to Norwegian law.
The characteristics of the 10 Syrian pound (10 SYP) coin have been found to so closely resemble the 20 Norwegian kroner (20 NOK) coin that it can fool vending machines, coins-to-cash machines, arcade machines, and any other coin-operated, automated service machine in the country. Whilst they are hardly similar to the naked eye, machines are unable to tell the coins apart, owing to their almost identical weight and size.
As of mid February 2017, 10 Syrian pounds were worth 39 øre, making the 20-kroner coin 51.5 times more valuable than the 10-pound coin. While not easy to find in Norway, the Syrian coins are still used in automated machines there with such frequency that Posten Norge, the Norwegian postal service, decided to close many of their coins-to-cash machines on 18 February 2006, with plans to develop a system able to differentiate between the two coins. In the summer of 2005, a Norwegian man was sentenced to 30 days, suspended, for having used Syrian coins in arcade machines in the municipality of Bærum.
In 1877, Norges Bank introduced notes for 5, 10, 50, 100, 500 and 1000 kroner. In 1917, 1-krone notes were issued, and 2-kroner notes were issued between 1918 and 1922. Because of metal shortages, 1- and 2-kroner notes were again issued between 1940 and 1950. In 1963, 5-kroner notes were replaced by coins, with the same happening to the 10-kroner notes in 1984. 200-kroner notes were introduced in 1994.
|Main Color||Design||First issue|
|50 kr||126 × 70||Green||Utvær Lighthouse||Stylized lighthouse beacon||2018|
|100 kr||133 × 70||Red||Gokstad ship||Stylized Container ship and Orion||2017|
|200 kr||140 × 70||Blue||Codfish||Stylized fishing boat||2017|
|500 kr||147 × 70||Orange||Rescue vessel RS 14 "Stavanger"||Stylized oil platform||2018|
|1000 kr||154 × 70||Purple||Wave in the sea||Stylized horizon||2019|
|These images are to scale at 0.7 pixel per millimeter. For table standards, see the banknote specification table.|
|1 øre||—||1876–1972||1988||Bronze, iron 1918–1921 & 1941–1945|
|2 øre||—||1876–1972||1988||Bronze, iron 1917–1920 & 1943–1945|
|5 øre||—||1875–1982||1988||Bronze, iron 1917–1920 & 1941–1945|
|10 øre||—||1874–1991||2003||Silver 1874–1919, cupro-nickel 1920–92 (holed 1924–51), zinc 1941–1945|
|25 øre||—||1876–1982||1988||Silver 1876–1919, cupro-nickel 1921–82 (holed 1921–50), zinc 1943–1945|
|50 øre||—||1874–2012||2012||Silver 1874–1919, cupro-nickel 1920–96 (holed 1920–49), zinc 1941–1945, bronze 1996–2012|
|War time "coin notes"||1875–||—||Silver 1875–1917, cupro-nickel 1925– (holed 1925–1951, 1997–)|
|War time "coin notes"||1876–1917||1922||Silver 1878–1917|
|5 kroner||1877–1963||1999||Replaced by coin 1963||1963–||—||Cupro-nickel (holed 1998–)|
|10 kroner||1877–1984||1999||Replaced by coin 1984||1983–||—||Nickel-brass|
|Rank||Currency||ISO 4217 code
|% of daily trades|
(bought or sold)
|United States dollar||
|New Zealand dollar||
|Hong Kong dollar||
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|New Taiwan dollar||
The value of Norwegian krone compared to other currencies varies considerably from one year to another, mainly based on changes in oil prices and interest rates. In 2002 the Norwegian krone grew to record high levels against the United States dollar and the Euro. On 2 January 2002, 100 NOK were worth 11.14 USD (1 USD = 8.98 NOK). In July 2002, the krone hit a high at 100 NOK = 13.7 USD (1 USD = 7.36 NOK). In addition to the high level of interest, which increased further on 4 July 2002, to 7 per cent, the price of oil was high. At the time Norway was the world's third largest oil exporter.
In 2005, oil prices reached record levels of more than 60 dollars per barrel. Although interest rates had decreased to around 2 per cent, the Norwegian krone grew even stronger.
However, in late 2007 and early 2008, the USD suffered a steady depreciation against all other major currencies. The Norwegian krone was gaining value at the same time; as a result, the Norwegian krone became stronger than ever compared to the USD, making the USD worth about 5 NOK in April 2008. By October 2008, the USD had recovered and was worth approximately 7 NOK. Following 2009, the NOK has once again seen strong growth, making the USD worth about 5.8 NOK as of the beginning of 2010. Since then, the USD has gone up further and as of mid 2016 is worth about 8.5 NOK.
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The Norwegian krone is used in Norway including Svalbard. It is also informally accepted in many shops in Sweden and Finland that are close to the Norwegian border, and also in some shops in the Danish ferry ports of Hirtshals and Frederikshavn. Norwegians spent 14.1 billion NOK on border shopping in 2015 compared to 10.5 billion NOK spent in 2010. Border shopping is a fairly common practice amongst Norwegians, though it is seldom done on impulse. Money is spent mainly on food articles, alcohol and tobacco, in that order, usually in bulk or large quantities. This is due to considerably higher taxes and fees on tobacco and alcohol purchased domestically in Norway.
Bankgiro is a Norwegian giro system used by all banks in the country, managed by Bankenes Betalingssentral (BBS). The system allows arbitrary transactions between private accounts in all Norwegian accounts using Norwegian krone. It is optimised for online banking, though it is also available via the post (Brevgiro), using a telephone (Telegiro) or based on automation, including the services Avtalegiro, Autogiro and eFaktura.
The system dates back to 1973 when the commercial banks and the saving banks created a common system that could compete with the Postgiro system used by the postal bank, Postbanken. Use of Bankgiro was free until 1985. In the late 1990s, Postgiro was bought out by BBS and Postbanken went over to using Bankgiro.Banknotes of the Norwegian krone
Norwegian banknotes are circulated, in addition to Norwegian coins, with a denomination of Norwegian kroner, as standard units of currency in Norway. From 1877, after the establishment of the Scandinavian Monetary Union, Norwegian banknotes of 1000, 500, 200, 100, 50, 10 and 5 kroner have been put into circulation. The first 200 kroner banknote was first published in 1994. The others have been in used since 1877. Banknotes of 5 and 10 kroner were in use until 1963 and 1983 when they were replaced by coins.
From 1917-1925 and 1940-1950 there was a shortage of small change, and 1 and 2 kroner banknotes were printed as "arbitration coins banknotes." The first edition was canceled in 1926, while the second edition was formally valid right up to 1999.Bergen Storsenter
Bergen Storsenter is the largest shopping centre in central Bergen, Norway, with a turnover of 1,024 billion Norwegian krone in 2002.Båtsfjord Airport
Båtsfjord Airport (Norwegian: Båtsfjord lufthavn, IATA: BJF, ICAO: ENBS) is a regional airport serving Båtsfjord in Finnmark, Norway. It consists of a 1,000 by 30 meters (3,281 by 98 ft) runway and served 14,485 passengers in 2016. A further 14,663 landed and started at the airport without leaving the aircraft.Scheduled services are provided by Widerøe using the Dash 8 to Kirkenes, Hammerfest and other communities in Finnmark. The airport is owned and operated by the state-owned Avinor.
It is the second airport in Båtsfjord. The first was built in 1973, but only had a gravel runway. When Widerøe replaced their smaller de Havilland Canada Twin Otters with the Dash 8, a new airport was needed to serve Båtsfjord. The new airport cost 178 million Norwegian krone and opened on 9 September 1999.Currency
A currency (from Middle English: curraunt, "in circulation", from Latin: currens, -entis), in the most specific use of the word, refers to money in any form when in use or circulation as a medium of exchange, especially circulating banknotes and coins. A more general definition is that a currency is a system of money (monetary units) in common use, especially for people in a nation. Under this definition, US dollars (US$), British pounds (£), Australian dollars (A$), European euros (€), Russian rubles (₽) and Indian Rupees (₹) are examples of currency. These various currencies are recognized as stores of value and are traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are defined by governments, and each type has limited boundaries of acceptance.
Other definitions of the term "currency" are discussed in their respective synonymous articles banknote, coin, and money. The latter definition, pertaining to the currency systems of nations, is the topic of this article. Currencies can be classified into two monetary systems: fiat money and commodity money, depending on what guarantees the currency's value (the economy at large vs. the government's physical metal reserves). Some currencies are legal tender in certain political jurisdictions. Others are simply traded for their economic value. Digital currency has arisen with the popularity of computers and the Internet.DNB Arena (Stavanger)
DNB Arena is an indoor ice hockey rink in Stavanger, Norway, and home to the GET-ligaen side Stavanger Oilers. Opened ahead of the 2012–13 season, the arena has a capacity for 4,500 spectators during ice hockey matches and 6,000 during concerts, including 36 executive boxes. The rink is unusual for Norway in that it has the National Hockey League rink size. The 16,500 square meters (178,000 sq ft) building is designed by Arkitektkontoret Jobb and is named for DNB, a Norwegian banking group.
Plans for a new venue to replace the aging Stavanger Ishall were first articulated by club-owner Tore Christiansen in 2006. Construction started in May 2011, with Kruse Smith as the main contractor. Construction cost 210 million Norwegian krone (NOK). The venue is owned by the Oilers' investment company, which receives a combined 9 million per year from DNB and the municipality. The arena hosted group stages of 2012–13 IIHF Continental Cup and 2013 IIHF Women's World Championship Division I.Eidsiva Arena
Eidsiva Arena (Kristins Hall) is an arena located at Stampesletta in Lillehammer, Norway. It consist of an ice rink, a combined handball and floorball court, and a curling rink. The venue, owned and operated by the Lillehammer Municipality, opened in 1988 and cost 65 million Norwegian krone (NOK) to build. One of the motivations for its construction was to help Lillehammer's bid to be selected as the host of the 1994 Winter Olympics. The ice rink has a capacity for 3,194 spectators and is the home rink of GET-ligaen hockey club Lillehammer IK. Eidsiva Arena is located next to the larger Håkons Hall, which opened in 1993. During the 1994 Winter Olympics, Kristins Hall was a training rink, and subsequently hosted the ice sledge hockey tournament at the 1994 Winter Paralympics. The venue also co-hosted Group B of the 1989 World Ice Hockey Championships.
During the 2016 Winter Youth Olympics, it hosted the Curling and the Ice hockey competitions.GuardAir
GuardAir AS was a Norwegian airline which operated between 1992 and 2001. Based at Sandefjord Airport, Torp, it operated four Dornier Do 228s and served eight scheduled destinations in 2001.
The airline was established with a Cessna 210 to search for stolen vehicles. After merging with Wing-Tech in 1997, the airline procured a Do 228 and started flying newspapers. Its first scheduled service connected Skien with Oslo, but lasted only year after the October 1998 start-up. The airline then flew flights from Sandefjord to Ålesund, Kristiansund and an international route to Gothenburg. GuardAir won a government contract to fly to Røst and Fagernes from 2000. Finally the airline established a route from Trondheim to Ålesund and Kristiansund. The airline lost an accumulated 30 million Norwegian krone and filed for bankruptcy on 2 April 2001.Halsnøy Tunnel
The Halsnøy Tunnel (Norwegian: Halsnøytunnelen) is a subsea road tunnel which connects the island of Halsnøy to the mainland in Hordaland county in Norway. The northern end of the tunnel is at Sunde, just south of Husnes, and the southern entrance to the tunnel is just north of the village of Sæbøvik on Halsnøy. The 4,120-metre (13,520 ft) long tunnel reaches a depth of 135 metres (443 ft) below mean sea level. Located on County Road 544, it opened on 8 March 2008 and is a toll road. The project included 2.2 kilometers (1.4 mi) of new road and cost 427 million Norwegian krone. Prior to the opening of this tunnel in 2008, the island of Halsnøy was the most populous island in Norway with no road connection. As an energy conservation measure, the tunnel is not fully illuminated at night, but rather when a vehicle approaches the tunnel, sensors turn on the lights, and then when all vehicles have exited the tunnel, the lights turn off again.Krona
Krona may refer to:
In monetary units, where krona and its variants mean crown:
Krona (comics), alien villain in DC Comics
Charlotte Krona (born 1978), Swedish model and violinist
Krona, or Crona, character in Soul Eater (manga)
Krona space object recognition station, Russian military satellite detection station in Zelenchukskaya
Krona-N the second Krona satellite detection station, in NakhodkaLærdal Tunnel
The Lærdal Tunnel (Norwegian: Lærdalstunnelen) is a 24.51-kilometre-long (15.23 mi) long road tunnel connecting Lærdal and Aurland in Sogn og Fjordane, Norway and located approximately 175–200 kilometres (109–124 mi) north-east of Bergen. It is the longest road tunnel in the world succeeding the Swiss Gotthard Road Tunnel. The tunnel carries two lanes of European Route E16 and represents the final link on the new main highway connecting Oslo and Bergen without ferry connections and difficult mountain crossings during winter.
In 1975, the Parliament of Norway decided that the main road between Oslo and Bergen would run via Filefjell. In 1992, Parliament confirmed that decision, made the further decision that the road should run through a tunnel between Lærdal and Aurland, and passed legislation to build the tunnel. Construction started in 1995 and the tunnel opened in 2000. It cost 1.082 billion Norwegian krone ($113.1M USD).NOK
NOK or Nok may refer to:
Kiel Canal (Nord-Ostsee-Kanal), a canal in northern Germany
Next of kin, a person's closest living blood relative(s)
NOK, ISO 4217 currency code for the Norwegian krone
NYSE stock ticker for Nokia Corporation, based in Finland
Nok culture, an ancient civilization in Nigeria
Nok, a village and archeological site in Nigeria
Nok Hockey, the game
Nok Kundi, a town in Western Pakistan
Nok Air, a low-cost airline from Thailand
Nok, the stage name of Yollada Suanyot, a politician and entertainer from Thailand
National Women's Organization (Narodowa Organizacja Kobiet or NOK), a socio-political organization in PolandNRK aktivum
NRK Aktivum was created in 1997 as a wholly owned subsidiary of the Norwegian Broadcasting Corporation (NRK) to take care of NRK's commercial activities. NRK Aktivum develop and sell products, services and rights based on NRK's program production and brands.They offer DVDs, music, books, audiobooks and licensed products from NRK's program archives and ongoing production of television, radio and online. They also sell billboards to sponsor on television, they have an event department, as well as an offer to visitors Marienlyst with a visitor center and guided tours.The company as of 2012 has 25 employees, and its 2011 revenue was approximately 130 million Norwegian krone.NSB WLAB-2
NSB WLAB-2 or WLAB2 is a class of twenty sleeping cars built by Strømmens Verksted for the Norwegian State Railways (NSB). They serve as the sole sleepers in Norway, being used on the Bergen Line, Dovre Line, Nordland Line and Sørlandet Line. Each car features fifteen compartments, which can each be utilized with a single or twin bunk configuration. The carriages have a unique octagonal shape, are 27 meters (89 ft) long and weigh 48 tonnes.
Planning of the series started in 1977 and the order was placed in 1984. Each of the units cost 9 million Norwegian krone and were built in 1986 and 1987. The first ordinary service commenced on 1 September 1986.Norwegian Reward
Norwegian Reward is the frequent flyer program of Norwegian Air Shuttle.
The program has been started in 2007 and has over 8 million members (2018). Every time members book a trip with Norwegian, or use services from Norwegian Reward's partners, CashPoints are earned. CashPoints are the same as bonus points, 1 CashPoint is equal to 1 Norwegian krone. The points can be used to pay for tickets or related products such as seating reservations or luggage. Norwegian Reward does not operate with traditional status levels, but people who fly often can gain extra benefits called "Rewards".
Bank Norwegian is linked to the benefit program and with the credit card Norwegian card customers earn CashPoints on all purchases. CashPoints can also be earned on purchases in other industries such as insurance, grocery and mobile.
In 2017 and 2018, Norwegian Reward won the award for "The Airline's Best Loyalty Program in Europe / Africa".Norwegian Trotting Association
The Norwegian Trotting Association (Norwegian: Det Norske Travselskap, DNT) is the sports federation organizing horse racing in Norway. It is an umbrella for the 13 regional federations and 185 local chapters with 17,000 members. Tote betting takes place at eleven harness race courses and one gallop races course, Øvrevoll Galoppbane, all owned by the association. The betting is organized through the association-owned company Norsk Rikstoto. In 2009 the association organized 556 race days, with 4,652 races taking place in 2008. It organizes 5,500 active racehorses, 200 professional trainers, 60 assistant trainers and 3,000 amateur trainers.Horse racing in Norway has traditionally taken place on frozen lakes and home from church on Sundays. DNT was established in 1875. In 1928 horse betting was legalized and Bjerke Travbane in Oslo opened. DNT became a founding member of the European Trotting Union in 1973. Norsk Rikstoto was established in 1982 and opened for a national off-track betting. Betting revenue totaled 3.2 billion Norwegian krone in 2008. Races are broadcast on Rikstoto Direkte.Opplysningskontoret for egg og kjøtt
Opplysningskontoret for egg og kjøtt ("The Information Office for Eggs and Meat") is a Norwegian private organisation which seeks to provide information and help on behalf of the Norwegian meat industry. It among other things receives 69 million Norwegian krone in annual subsidies from the Government of Norway.Ryfast
Ryfast is a sub-sea tunnel system under construction in Norway. The tunnel system will be part of the Norwegian National Road 13 and it will run between the city of Stavanger, under a large fjord, and to the municipality of Strand in Rogaland county.When the last section was drilled on 26 October 2017, Ryfast became the longest undersea road tunnel in the world, with its 14.3km length greater than the Tokyo Bay Tunnel in Japan (9583m.) and the Shanghai Yangtze River Tunnel (8950m.) in China.The project was approved by the Norwegian Parliament on 12 June 2012 and construction began in the spring of 2013. The cost of Ryfast is estimated to 5.22 billion kr (Norwegian krone). The tunnel system will replace today's ferry route between Stavanger and Tau as well as the ferry from Oanes to Lauvik across the Høgsfjorden. The tunnel system is scheduled to open in 2019.
The tunnel system will consist of two subsea tunnels:
Hundvåg Tunnel, 5,500 metres (18,000 ft), running from the city of Stavanger to the island of Hundvåg (with a connection to the smaller island of Buøy also. This will also help relieve congestion on the Stavanger City Bridge.
Ryfylke Tunnel, 14,300 metres (46,900 ft), running from the island of Hundvåg to just south of the village of Tau in Strand municipality on the other side of the fjord. This will reduce travel time between the Northern Jæren and Ryfylke districts in Rogaland county.The Ryfast tunnel system joins another tunnel project under construction at the same time. The Eiganes Tunnel will run under the western part of the city of Stavanger.St. Olav's Hospital Trust
St. Olav's Hospital Trust (Norwegian: St. Olav's Hospital, Universitetssykehuset i Trondheim) is a health trust which covers Sør-Trøndelag, Norway. The trust is owned by Central Norway Regional Health Authority and is headquartered in Trondheim. As of 2011 it had 9,725 employees and an annual budget of 7.3 billion Norwegian krone.The main facility is St. Olav's University Hospital, situated at Øya in Trondheim. The trust operates two other somatic facilities, Orkdal Hospital and Hysnes Rehabilitation Centre. In addition to the psychiatric clinic at St. Olav's, the trust operates two psychiatric hospitals, Østmarka Hospital and Brøset Hospital. It also operates district psychiatric centers in Nidaros, Orkdal and Tiller.
Currency units named crown or similar
|As a denomination|
Currencies of Europe