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Encyclopedia > Norwegian krone
Norwegian krone
norsk krone (Norwegian)
20 kroner
1000 kroner 20 kroner
ISO 4217 Code NOK
User(s) Norway
Inflation 2.3%
Source The World Factbook, 2006 est.
Subunit
1/100 øre
Symbol kr
Plural kroner
øre øre
Coins 50 øre, 1, 5, 10, 20 kr
Banknotes 50, 100, 200, 500, 1000 kr
Central bank Bank of Norway
Website www.norges-bank.no

The krone is the currency of Norway. The plural form is kroner. It is subdivided into 100 øre (singular and plural are the same). The ISO 4217 code is NOK, although the common abbreviation is kr. The name translates into English as "crown". Image File history File links Norwegian_1000_kr_VII_adverse. ... Image File history File links Norwegian_20_kr_adverse. ... Øre is the one-hundredth subdivision of the Norwegian krone and Danish krone currency units. ... Look up Plural in Wiktionary, the free dictionary Plural is a grammatical number, typically referring to more than one of the referent in the real world. ... Øre is the one-hundredth subdivision of the Norwegian krone and Danish krone currency units. ... Norwegian coins are circulated, in addition to Norwegian banknotes, as the standard unit of currency in Norway, 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. ... Norges Bank is the central bank of Norway. ... Øre is the one-hundredth subdivision of the Norwegian krone and Danish krone currency units. ... ISO 4217 is the international standard describing three letter codes (also known as the currency code) to define the names of currencies established by the International Organization for Standardization (ISO). ... The English language is a West Germanic language that originates in England. ...

Contents

History

The krone was introduced in 1875, replacing the Norwegian speciedaler 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 the 1914 but, after its dissolution, Denmark, Norway and Sweden all decided to keep the names of their respective and now separate currencies. 1875 (MDCCCLXXV) was a common year starting on Friday (see link for calendar). ... The speciedaler was a Norwegian coin, initially equivalent to the Danish rigsdaler specie coin of the 18th century. ... The Scandinavian Monetary Union (Swedish: Skandinaviska myntunionen, Danish: Skandinaviske møntunion) was a monetary union formed by Sweden and Denmark on May 5, 1873 by fixing their currencies against gold at par to each other. ... 1873 (MDCCCLXXIII) was a common year starting on Wednesday (see link for calendar). ... 1914 (MCMXIV) was a common year starting on Thursday (see link for calendar). ...


Within the Scandinavian Monetary Union, the krone was on a gold standard of 2480 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 but 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 kroner to the U.S. dollar at a rate of 4.4 kroner = 1 dollar. The gold standard is a monetary system in which the standard economic measure of value is gold, and the currencies which are used as units of account are specified as a weight of gold, ideally fixed and not subject to change, and where all currency issuance is to one degree... For details of notes and coins, see British coinage and British banknotes. ... The United States dollar is the official currency of the United States. ...


During the German occupation in the Second World War, the krone was pegged to the Reichsmark at a rate of 1 krone = 0.6 Reichsmark initially, later reduced to 0.57. After the war, a rate of 20 krone = 1 pound (4.963 krone = 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 krone = 1 U.S. dollar. Mushroom cloud from the nuclear explosion over Nagasaki rising 18 km into the air. ... User(s) Germany Subunit 1/100 Reichspfennig Symbol RM Reichspfennig Rpf. ...


Coins

In 1875, coins were introduced (some dated 1874) in denominations of 10 and 50 øre and 1, 10 and 20 krone. These coins also bore the denomination in the previous currency, as 3, 15 and 30 skilling and 2½ and 5 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, 10 and 20 krone. The 1, 2 and 5 øre were bronze, the 10, 25 and 50 øre and 1 and 2 kroner were silver, whilst the 10 and 20 kroner were gold. Skilling may refer to: Tom Skilling, meteorologist in Chicago, Illinois Jeffrey Skilling, former CEO of Enron Corporation Michael Skilling, former Attorney General of England and Wales Swedish skilling, a form of currency Mikey Skilling, Scottish music artist This is a disambiguation page: a list of articles associated with the same...


The last gold coins were issued in 1910, with silver being 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 in WWII, zinc was used in place of cupro-nickel in the 10, 25 and 50 øre, with production of the 1 krone suspended.


In 1963, 5 kroner coins were introduced, whilst, in 1972, production of 1 and 2 øre coins ceased. In 1973, the size of the 5 øre coin was reduced, with the denomination ceasing production in 1982, along with the 25 øre. 10 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, with the 20 kroner introduced in 1994.

Coins of the Norwegian krone

50 øre (1996); King's crown, fable animal

1 kr (1997); Harald V's monogram, a fowl

5 kr (1998); St.Olav's Order, acanthi leaves

10 kr (1995); Harald V, stave church roof

20 kr (1994); Harald V, viking ship

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 only decorated 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. Norwegian coins are circulated, in addition to Norwegian banknotes, as the standard unit of currency in Norway, the Norwegian krone. ... Image File history File links Norwegian_50_ore_adverse. ... Image File history File links Norwegian_50_ore_reverse. ... 1996 (MCMXCVI) was a leap year starting on Monday of the Gregorian calendar, and was designated the International Year for the Eradication of Poverty. ... A crown is a symbolic form of headgear worn by a monarch or by a god, for whom the crown is traditionally one of the symbols of power and legitimacy (See Regalia for a broader treatment). ... For a comparison of fable with other kinds of stories, see Myth, legend, fairy tale, and fable. ... Image File history File links Norwegian_1_kr_adverse. ... Image File history File links Norwegian_1_kr_reverse. ... 1997 (MCMXCVII) was a common year starting on Wednesday of the Gregorian calendar. ... Harald V, King of Norway (born February 21, 1937) is the monarch of Norway. ... A fowl is a bird of any kind, although some types of birds use the word specifically in their names (for example, Guineafowl and Peafowl). ... Image File history File links Norwegian_5_kr_adverse. ... Image File history File links Norwegian_5_kr_reverse. ... 1998 (MCMXCVIII) was a common year starting on Thursday of the Gregorian calendar, and was designated the International Year of the Ocean [1]. // Coated in ice, power and telephone lines sag and often break, resulting in power outages. ... Order of St. ... Species See text Acanthus is a genus of about 30 species of flowering plants in the family Acanthaceae, native to tropical and warm temperate regions of the Old World, with the highest species diversity in the Mediterranean region and Asia. ... Image File history File links Norwegian_10_kr_adverse. ... Image File history File links Norwegian_10_kr_reverse. ... 1995 (MCMXCV) was a common year starting on Sunday of the Gregorian calendar. ... Urnes stave church in Luster, Norway, listed as a world heritage site by UNESCO A stave church is a medieval wooden church with a post and beam construction related to timber framing. ... Image File history File links Norwegian_20_kr_adverse. ... Image File history File links Norwegian_20_kr_reverse. ... 1994 (MCMXCIV) was a common year starting on Saturday of the Gregorian calendar, and was designated as the International Year of the Family and the International Year of the Sport and the Olympic Ideal by United Nations. ... Models of Viking ships at port, including a Knarr, Longship and Faering Viking ship is a collective term for ships used during the Viking Age (800–1100) in Northern Europe. ... This article is a list of rulers of Norway up until the present, including: The Norwegian kingdom (with the Faroe Islands) The Union with Iceland and Greenland (1262-1814) The Norwegian kingdom (with Iceland, Greenland and the Faroe Islands 1262-1814) The Union of Sweden and Norway (1319-1343) The... Harald V, King of Norway (born February 21, 1937) is the monarch of Norway. ...


The coins and banknotes are distributed by the Central Bank of Norway. Norwegian coins are circulated, in addition to Norwegian banknotes, as the standard unit of currency in Norway, 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. ... Norges bank is the central bank of Norway. ...


Banknotes

In 1877, Norges Bank introduced notes for 5, 10, 50, 100, 500 and 1000 kroner. In 1917, 1 krone notes were issued, with 2 kroner notes issued between 1918 and 1922. 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.

Banknotes of the Norwegian krone

50 kr; Peter Christen Asbjørnsen

100 kr; Kirsten Flagstad

200 kr; Kristian Birkeland

500 kr; Sigrid Undset

1000 kr; Edvard Munch


Norwegian banknotes are circulated, in addition to Norwegian coins, with a denomination of Norwegian kroner, as standard units of currency in Norway. ... Image File history File linksMetadata Download high resolution version (1522x722, 232 KB) Licensing File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... Peter Christian Asbjørnsen (1812-1885) was a Norwegian writer who together with Jørgen Moe compiled and edited an authoritative collection of Norwegian folk tales. ... Image File history File linksMetadata Download high resolution version (1528x713, 182 KB) Licensing File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... Kirsten Flagstad Kirsten Målfrid Flagstad (July 12, 1895 – December 7, 1962) was a Norwegian opera singer. ... Image File history File linksMetadata Download high resolution version (1497x716, 196 KB) Licensing File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... Kristian Birkeland Kristian Birkeland (December 13, 1867 - June 15, 1917) was born in Christiania (Oslo today) and wrote his first scientific paper at the age of 18. ... Image File history File linksMetadata Download high resolution version (1555x762, 214 KB) Licensing File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... Sigrid Undset as photographed by Carl Van Vechten in 1927. ... Image File history File linksMetadata Download high resolution version (1521x760, 206 KB) Licensing File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... Edvard Munchs Tomb, Oslo, Norway Edvard Munch (IPA: , December 12, 1863 – January 23, 1944) was a Norwegian Symbolist painter, printmaker, and an important forerunner of Expressionistic art. ...


Summary of denominations issued

Denomination Notes Coins
Printed Invalid Comments Minted Invalid Comments
1 øre - 1876-1972 1998 Bronze, iron 1918-21 & 1941-45
2 øre - 1876-1972 1998 Bronze, iron 1917-20 & 1943-45
5 øre - 1875-1982 1998 Bronze, iron 1917-20 & 1941-45
10 øre - 1874-1991 2003 Silver 1874-1919, cupro-nickel 1920-92 (holed 1924-51), zinc 1941-45
25 øre - 1876-1982 1998 Silver 1876-1919, cupro-nickel 1921-82 (holed 1921-50), zinc 1943-45
50 øre - 1874 - Silver 1874-1919, cupro-nickel 1920-96 (holed 1920-49), zinc 1941-45, bronze 1996-
1 krone 1917-1925
1940-1950
1926
1999
War time "coin notes" 1875- - Silver 1875-1917, cupro-nickel 1925- (holed 1925-51, 1997-)
2 kroner 1918-1925
1940-1950
1926
1999
War time "coin notes" 1876-1917  ?? 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
20 kroner - 1994- - Nickel-brass
50 kroner 1877- -   -
100 kroner 1877- -   -
200 kroner 1994- -   -
500 kroner 1877- -   -
1000 kroner 1877- -   -

Sources: [1], [2], [3], [4]


Exchange rates

The value of Norwegian kroner compared to other currencies varies considerably from one year to another, mainly based on changes in oil prices and interest rates. Pumpjack pumping an oil well near Lubbock, Texas Ignacy Łukasiewicz - inventor of the refining of kerosene from crude oil. ...


In 2002 the Norwegian krone kept growing stronger and stronger to record high levels compared to the dollar and the Euro. On January 2, 2002, one krone was worth around 0.11 United States dollar (1 USD=9 NOK). In July 2002, the krone hit a high at 0.137 dollar (1 USD=7.36 NOK). In addition to the high level of interest, which increased further on July 4, 2002, to 7 per cent, the oil price was high. At the time Norway was the world's third biggest oil exporter. For album titles with the same name, see 2002 (album). ... United States one-dollar bill Canadian one-dollar coin (Loonie) One New Taiwan dollar Australian one-dollar coin 500 old Zimbabwean dollars The dollar (often represented by the dollar sign: $) is the name of the official currency in several countries, dependencies and other regions. ... “EUR” redirects here. ... January 2 is the second day of the year in the Gregorian calendar. ... ISO 4217 Code USD User(s) the United States, the British Indian Ocean Territory,[1] the British Virgin Islands, Cambodia, East Timor, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, Panama, Turks and Caicos Islands, and the insular areas of the United States Inflation 2. ... For the United States holiday, the Fourth of July, see Independence Day (United States). ... Pumpjack pumping an oil well near Lubbock, Texas Ignacy Łukasiewicz - inventor of the refining of kerosene from crude oil. ...


In 2005, after almost continuously increasing since the beginning of 2002, 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. The barrel is the name of several units of volume: Oil barrel: 42 U.S. gallons, 158. ...

Current NOK exchange rates
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See also

Exchange rate data in US Dollars since 1969 (Source Data: Reserve Bank of Australia www. ... The Scandinavian Monetary Union (Swedish: Skandinaviska myntunionen, Danish: Skandinaviske møntunion) was a monetary union formed by Sweden and Denmark on May 5, 1873 by fixing their currencies against gold at par to each other. ... ISO 4217 Code SEK User(s) Sweden Inflation 2. ... ISO 4217 Code DKK User(s) Denmark, Greenland, Faroe Islands 1 Inflation 1. ...

External links

  • Norges Bank

  Results from FactBites:
 
Norwegian krone - definition of Norwegian krone in Encyclopedia (336 words)
Krone is the name of the currency used in Norway.
The introduction of the krone as the Norwegian legal tender in 1875 was a result of the Scandinavian Monetary Union, which lasted until the First World War.
The Norwegian coins and Norwegian banknotes are distributed by the Central Bank of Norway [1] (http://www.norgesbank.no/english/).
Svalbard - Wikipedia, the free encyclopedia (1305 words)
As reported by BBC News the Norwegian government will be building this bank by hollowing out a cave on Spitsbergen and then putting in as many seeds as possible with the support from countries around the world.
The Norwegian state-owned coal company employs nearly 60% of the Norwegian population on the island, runs many of the local services, and provides most of the local infrastructure.
Norwegian Ministry of Justice and the Police: Report to the Storting (1999-2000) on Svalbard - extensive report on political, administrative, economical and scientific matters relating to Svalbard
  More results at FactBites »

 
 

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