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The weakening of the Norwegian krone against other currencies such as the dollar and the euro has been continuing for the last few months.
Also read: Surprisingly strong price increase in Norway. We know the culprit
According to Bjørn Roger Wilhelmsen, chief economist at Nordkinn Asset Management, there are no clear reasons for today's weakening of the koruna. Still, the dollar trades at NOK 10,57 at 17pm, which is a clear weakening of the krona compared to the rate in the morning. The euro is trading at NOK 00, which is also a drop in the value of the krona during the day.
Currently offered Norwegian crown is the weakest against the euro since April 2020. At the same time, the devaluation of the krone contributed to the increase in the value of the Oil Fund, which reached another record level.
