What is the currency of Norway?

What is the currency of Norway? The currency of Norway is the Norwegian krone.

The krone has the ISO code NOK and is issued by Norges Bank, Norway’s central bank. The plural form is kroner, while amounts are commonly marked with the abbreviation kr. One krone was traditionally divided into 100 øre, but øre coins were withdrawn from circulation in 2012 because their purchasing value had become very small.

Norway introduced the krone in 1875, replacing the Norwegian speciedaler. The country then joined the Scandinavian Monetary Union, linking its currency with those of Denmark and Sweden. The three currencies remained exchangeable at par until the monetary union effectively ended during the disruptions surrounding World War I.

Norway’s krone is separate from both the Danish krone and Swedish krona, despite the similar names and shared Scandinavian history. Norway also does not use the euro, although it has close economic ties with European Union countries. Modern Norwegian banknotes feature themes connected to the sea, including codfish, fishing vessels, and offshore energy.