A practical foreign exchange and currency guide on sending money and travel to Bouvet Island
What's in this Bouvet Island currency 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.
The below comparison table makes it easy to find the best exchange rates and lowest fees when you want to make a Transfer or Spend 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.
24 Nov 2021
09 Sep 2021
08 Dec 2020
09 Dec 2016
11 Dec 2011
13 Dec 2001