Welcome to Pure FX's latest update of the pound to Norwegian krone interbank exchange rate.
This tells you when the pound to Norwegian krone interbank exchange rate rises, for your money transfer!
Sterling stays strong versus the krone! The pound to krone interbank exchange rate has reached 11.21 today, just -0.88% below its highest since June 28th 2016, or almost 18 months.
The pound is flexing its muscles against the krone, because Norway's inflation fell to just 1.1% in November, said Statistics Norway last week, the 2nd consecutive monthly fall in price pressures.
This has weakened the Norwegian krone, in particular as Norway's inflation now stands well below Norway’s central bank Norges Bank's official target of 2.5%, pointing to subdued prices in the Scandinavian nation.
What's more, this has also dragged down the krone, because with Norway's inflation falling, Norges Bank may feel less pressure to lift interest rates, above their current all-time low of 0.5%.
'Below-target inflation suggests that [Norway's central bank] is in no hurry to start hiking rates,' according to SEB analyst Erica Blomgren, thereby weighing on the Norwegian krone recently.
'We will have very low interest rates still internationally, and also in Norway,' said Norges Bank governor Oystein Olsen recently too, thus lifting the pound to Norwegian krone interbank rate!
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Please bear in mind, this article is Pure FX’s opinion only and does not constitute advice. Moreover, the exchange rates referred to in this article are the interbank rates, which are the rates at which banks and financial institutions buy and sell currency to each other. Therefore these exchange rates cannot be accessed by individuals or SMEs, and are not the same rates that Pure FX can offer. To get a free exchange rate quote, call us on +44 (0) 1494 671800, or email email@example.com.