Bouvet Island Currency Guide: Explore with the Norwegian krone
Resources for Expats, Travelers, and Entrepreneurs Navigating Life and Trade in Bouvet Island with the Norwegian krone
What's in this Bouvet Island currency guide?
What currency is used in Bouvet Island?
The official currency of Bouvet Island (country code: BV) is the Norwegian krone, with symbol kr and currency code NOK.
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Frequently Asked Questions
What currency should I use in Bouvet Island?
The domestic currency in Bouvet Island is the Norwegian krone.
What is the Norwegian krone currency code and symbol?
The three letter currency code for the Norwegian krone is NOK — symbol is kr.
What doe the Norwegian krone look like?
Here is an example Norwegian krone banknote:
Which countries use the Norwegian krone?
It is the domestic currency in Norway, Bouvet Island and Svalbard and Jan Mayen.
Is the Norwegian krone a closed currency?
No, the Norwegian krone is freely available and convertible. See guide: What is a closed currency?
What are equivalent amounts of USD and NOK?
Here are some popular conversion amounts for USD to NOK (US dollar to Norwegian krone)*.
*Converted at the current USDNOK interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
Things to know about the Norwegian krone
In 2016, the Norwegian krone contributed to 1.7% of total foreign exchange market volume, and as such was the world's fourteenth most traded currency. The krone is subdivided into 100 øre and was introduced in the late nineteenth century.
Norway’s economy, and consequently the value of the krone, is heavily reliant on oil and gas prices since nearly half of the country’s total exports are these commodities. The krone is therefore aptly termed a ‘petro-currency’. As of 2016, Norway was the world’s tenth largest oil exporter.
Since 1995, the krone’s lowest valuation against the US dollar came in October 2000 when USD/NOK reached 9.65. The currency was strongest in April 2008 when USD/NOK fell to just 4.94 following a boom in the oil price. Against the euro, since the single currency's introduction in 1999, EUR/NOK has traded between 7.21 and 10.16.
Here is what the Norwegian kroner looks like:
Coins: The Norwegian kroner is available in coins ranging in value from 1 øre (1/100 of a kroner) to 20 kroner. The coins feature a variety of designs, including the Norwegian coat of arms and images of animals, plants, and cultural symbols.
Banknotes: The Norwegian kroner is available in banknotes ranging in value from 50 kroner to 1,000 kroner. The banknotes feature a variety of designs, including images of historical figures and cultural symbols.
Here are some of the historical figures that have appeared on Norwegian banknotes:
- 50 kroner: Kristian Birkeland, a Norwegian scientist and inventor
- 100 kroner: Kirsten Flagstad, a Norwegian opera Singer (see image below).
- 200 kroner: Camilla Collett, a Norwegian author and feminist
- 500 kroner: Henrik Ibsen, a Norwegian playwright and poet
- 1000 kroner: Sigrid Undset, a Norwegian novelist and Nobel laureate
It is worth noting that the designs of Norwegian banknotes are periodically updated, so the figures that currently appear on Norwegian banknotes may be different from the ones listed above.
Travel money for Bouvet Island
Using Wise for Norwegian krone travel money is a smart choice for savvy travelers. With its competitive exchange rates and low fees, Wise allows you to convert and manage multiple currencies effortlessly.
Be careful when using your own bank's Debit/Credit Card, as your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash on top of the standard Visa/Mastercard 2.5% from market mid-rate.
For card purchases, if you are offered a choice of currencies always select to Pay in Norwegian krone otherwise you will typically get much worst dynamic currency conversion (DCC) exchange rates.
If you really want Norwegian krone cash before departure, you can save money by ordering online. You generally get better rates and can pick up the NOK cash locally or even on travel day at the airport.
Bouvet Island: Travel Guide
Bouvet Island, a dependent Norwegian territory, is the most remote island in the world rising sharply from the freezing waters of the Pacific. It was discovered in 1739 by a French naval officer and later claimed by the British to be finally waived in favor of Norway. It's barely 50 square kilometers in area with 93 % of it covered by glaciers. The center of the island is occupied by an ice-filled crater of an inactive volcano and according to some data there is a lake of molten lava filling the caldera. The landscape is definitely not welcoming unless you are not put off by heaps of snow and ice formations but it surely is a dramatic one.
There is no standard telephone connection, no postal code or distribution.
As there are no ports or harbors, only offshore anchorages, the island is not easy to reach. The best way to access is by ship or helicopter but mind you, only if you are not denied permission. The island and adjacent territorial waters are a designated nature reserve so you might find it quite difficult to get there if your only purpose of visiting is mere tourism.
USD/NOK Market Data
The below interactive chart displays the USD/NOK change and UP📈 DOWN📉 trends over the past 1 Year.
Send Money to Bouvet Island - Best Rates
To get a good (and fair) exchange rate when sending money to Bouvet Island you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
Get a better deal for foreign transfers to Bouvet Island
When sending money to Bouvet Island it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Norwegian krone amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted NOK amount will be transfered to the recipient account you specify in Bouvet Island.
Use the above calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Norwegian krone deposited into the recipient bank account and less margins and fees kept by the banks!
