Analysis of recent Dollar → Krone forecasts for 2024. We collate forecasts from respected FX analysts together with the latest US dollar to Norwegian krone performance and trends.
Forecasts for USD to NOK
Based on recent updates and forecasts from FX analysts and market data, the USD to NOK exchange rate is currently trading at 10.75, which is 2.5% above its 3-month average of 10.49. The exchange rate has been relatively stable within a 6.5% range from 10.10 to 10.76. The US dollar (USD) has been strengthening due to reduced expectations of Federal Reserve interest rate cuts, with markets anticipating a potential rate reduction in June. Conversely, the Norwegian krone (NOK) has seen support from Norges Bank's aggressive interest rate hikes in response to inflationary pressures and a weak currency.
Furthermore, as Norway is a significant oil exporter, fluctuations in global oil prices can influence the NOK's value. Recent Brent Crude OIL/USD price data shows oil trading at 85.95, which is 5.6% above its 3-month average of 81.43. Oil prices have been volatile, ranging from 76.07 to 87.39. Given the NOK's sensitivity to oil price movements, any significant trends in the oil market could impact the NOK exchange rate. Overall, the USD to NOK exchange rate may be influenced by further developments in US monetary policy, global economic conditions, and fluctuations in oil prices in the coming weeks.
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Date
USD/NOK
Change
Period
13 Mar 2024
10.48
2.9% ▲
2 Week
28 Dec 2023
10.19
5.8% ▲
3 Month
28 Mar 2023
10.36
4.1% ▲
1 Year
29 Mar 2019
8.6292
24.9% ▲
5 Year
30 Mar 2014
6.0057
79.5% ▲
10 Year
01 Apr 2004
6.8501
57.4% ▲
20 Year
USD/NOK historic rates & change to 27-Mar-2024
Will the US dollar rise against the Norwegian krone?
It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.
To help with this you can add USD/NOK to your personalised Rate Tracker to track and benefit from currency movements.
Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more