Foreign exchange guide to Bouvet Island and the Norwegian krone
What's in this Bouvet Island currency guide?
The official currency of Bouvet Island (country code: BV) is the Norwegian krone, with symbol kr and currency code NOK.
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:
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.
Save money and time by Ordering your Norwegian krone online from Travelex, you get better rates and can pick up the NOK cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in Norwegian krone otherwise you may get much worst exchange rates.
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.
The domestic currency in Bouvet Island is the Norwegian krone.
The three letter currency code for the Norwegian krone is NOK — symbol is kr.
No, the Norwegian krone is freely available and convertible. See guide: What is a closed currency?
|$ 1||kr 10.65|
|$ 5||kr 53.25|
|$ 10||kr 106.50|
|$ 20||kr 213.00|
|$ 50||kr 532.50|
|$ 100||kr 1,065|
|$ 250||kr 2,663|
|$ 500||kr 5,325|
|$ 1,000||kr 10,650|
|$ 2,000||kr 21,300|
|$ 5,000||kr 53,250|
|$ 10,000||kr 106,500|
|$ 20,000||kr 213,000|
|$ 50,000||kr 532,500|
|$ 100,000||kr 1,065,000|
|$ 0.0939||kr 1|
|$ 0.4696||kr 5|
|$ 0.9393||kr 10|
|$ 1.8786||kr 20|
|$ 4.6964||kr 50|
|$ 9.3928||kr 100|
|$ 23.48||kr 250|
|$ 46.96||kr 500|
|$ 93.93||kr 1,000|
|$ 187.86||kr 2,000|
|$ 469.64||kr 5,000|
|$ 939.28||kr 10,000|
|$ 1,879||kr 20,000|
|$ 4,696||kr 50,000|
|$ 9,393||kr 100,000|
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.
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 :
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!