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Norwegian Krone (NOK)

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Definition – What does Norwegian Krone (NOK) mean?

The Norwegian kroner is the official currency of Norway. It is issued by the Norges Bank (Norway’s central bank). The singular form of kroner is krone, which is equal to crown in English.

ForexTerms explains Norwegian Krone (NOK)

Norway’s economy has grown rapidly based on the vast amount of natural resources, especially oil. For this reason, the kroner often acts like a commodity currency. The kroner was a pegged currency, but it has floated freely since the 1990s.

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