Swedish Krone is at its most expensive for Norwegians since 2016

Swedish moneySwedish money

Over the border shopping has become 5 percent more expensive in just the last two months, because the Swedish kroner has gone up in value against the Norwegian Krone.
According to the currency list from Norges Bank, its 100.22 NOK for 100 Swedish kroner, writes Nettavisen. That was also the situation back in June 2016.

According to the falling real estate prices and and weak shopping rates have primarily weaken the Norwegian currency. The krone exchange rate is also characterized by weaker trade during the Christmas season, according to the newspaper.

Although over the border shopping and holiday abroad are becoming more expensive for Norwegians, a weak krone exchange rate is worth gold for Norwegian exports and tourism.

“It is very good for Norway. We earn very much more net on a weak Krone and the weak Krone is a very important contributor to the fact that oil prices fell as much as it did.”

“It’s a very important factor for the export industry and the tourism industry. Energy export also benefit from a weak Krone,” says chief analyst Ole Håkon Eek-Nielsen of Nordea Markets.

 

© NTB Scanpix / Norway Today

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