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Stronger Krone against the Euro and USD

The Norwegian Krone has been substancially strengthened, and on Wednesday it reached its highest level since early June.

The Norwegian Krone has been substancially strengthened, and on Wednesday it reached its highest level since early June.

Since the Norwegian Central Bank held its last interest meeting on September 17th, the Norwegian Krone has been strengthened by 2.3 per cent, according to Aftenposten.

On Wednesday afternoon the USD rate fell from NOK 7.06 to NOK 7.05, while the euro rate fell from 8.07 to 8.05.

If this trend continues over a longer period, it may force the Norwegian Central Bank to announce further interest cuts, some analysts believe.