The krone is at its weakest against the euro ever

Money ransomwareMoney.Photo: Pixabay

One euro costs NOK 10.31 on Thursday afternoon. The Norwegian krone has not been this weak since the euro was established in 1999.

According to E24, the trend is explained by a fall of oil prices and fears of the new corona virus.

– “As long as we see the development we are seeing now with regard to infection and the development in the market, it is not surprising that the krone is falling so much. This definitely hits everyone who manages funds and plans at some level,” says currency strategist Magne Østnor in DNB Markets to Nettavisen.

© NTB Scanpix / #Norway Today


2 Comments on "The krone is at its weakest against the euro ever"

  1. For years, all analysis found online (DNB most notably) predicted a strengthening of the NOK.

  2. Rui Monteiro | 21. March 2020 at 15:15 | Reply

    Don’t get it why people call NOK one of the strongest currencies when the only thing it does is dropping…

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