EURNOK Euro vs Norwegian Krone

11.61963

-0.0067 (-0.06%)

Last Updated: 21:09:50

Delayed by 15 minutes

Name	Symbol	Market	Type
Euro vs Norwegian Krone	FX:EURNOK	Forex	Exchange Rate

	Price Change	% Change	Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Traded	Last Trade
	-0.0067	-0.06%	11.61963	11.61791	11.62135	11.64467	11.59949	11.62751	0	21:09:50

Norwegian Krona At More Than 4-week Low Vs Euro After Norway Rate Cut

24/09/2015 6:13am

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Euro vs NOK (FX:EURNOK)
Forex Chart

From Dec 2019 to Dec 2024

The Norwegian Krona lost ground against the euro in European deals on Thursday, after Norway's central bank lowered its key policy rate unexpectedly by a quarter point and indicated further reduction in the coming year.

The Executive Board of Norges Bank decided to cut its key rate to 0.75 percent from 1.00 percent.

Governor Øystein Olsen said the current outlook for the economy suggests that the key policy rate may be reduced further in the coming year.

"Growth prospects for the Norwegian economy have weakened, and inflation is projected to abate further out," he said.

The Norwegian Krona depreciated to more than a 4-week low of 9.5054 against the euro, compared to Wednesday's closing value of 9.2629. The Krona is likely to find support around the 9.6 mark.