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Todays Date : 03/20/2019

The Norwegian krone, symbol Kr, code NOK, is the official currency of the Kingdom of Norway, a country of nearly 5 million people. The Norwegian krone’s plural form is kroner, and it is subdivided into 100 øre. The krone is the de facto currency in Norway, as well as its dependent territories of Svalbard, Bouvet Island, Queen Maud Land, and Peter the First Island. The kroner is managed by Norges Bank in Oslo. 

The Krone was introduced in the year 1875 to replace the Norwegian speciedaler at a rate of 4 kroner equal to 1 speciedaler. This action was taken as part of Norway’s acceptance into the Scandinavian Monetary Union, which was formed in 1873. Even after the dissolution of the Union in 1914, Norway stuck with Krone as their own currency name. The Kingdom of Norway came under German rule during the Second World War, and was forced to adopt the German Reichsmark at a rate of 1 krone equal to 0.6 Reichsmark. After the war, the krone was fixed at a rate of 20 kroner equal to 1 GBP and 4.963 kroner equal to 1 USD. These fixed rates were dissolved and the krone was allowed to float in 1992. 

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Currency Quick Facts

Name: Norwegian krone

Symbol: Kr

Code: NOK

Decimal Unit: 100 øre

Nicknames: plural: kroner

Coins: 1 kr, 5 kr, 10 kr, 20 kr

Notes: 50 kr, 100 kr, 200 kr, 500 kr, 1,000 kr

Central Bank: Norges Bank

Country(ies): Kingdom of Norway

Currency Characteristics

The krone is currently circulated in coin values of 1 kr, 5 kr, 10 kr and 20 kr. These coins are made from cupro-nickel or copper, zinc and nickel alloys. Coins depict the current King of Norway on their front side, and national flora and fauna symbols on their reverse sides. The krone banknotes in circulation include 50 kr, 100 kr, 200 kr, 500 kr and 1000 kr notes. All banknotes are printed in a different size and color for each value and feature famous Norwegian figures on their front side and national symbols on their back side. 

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