Foreign Exchange Guide to Bouvet Island
The domestic currency in Bouvet Island is the Norwegian krone with currency code NOK. Read this foreign exchange guide to Bouvet Island and the Norwegian krone with money transfer and travel tips plus Norwegian krone exchange cross rates.
In this guide we review :
- Norwegian krone info - general info about the Norwegian krone
- Norwegian krone in the markets - recent NOK moves and predictions from the FX markets
- Travelling in Bouvet Island - currency & money saving tips
- Buying Norwegian krone cash online - travel money for Bouvet Island
- Sending money to Bouvet Island - save on Norwegian krone bank transfers to Bouvet Island
- Norwegian krone exchange rates - latest & historic exchange rates.
Norwegian krone (NOK) general currency information
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.
What is the Norwegian krone currency code and symbol?
The three letter currency code for the Norwegian krone is NOK and the symbol is kr.
Which countries use the Norwegian krone?
Norwegian krone (NOK) in the markets
Approaching the end of April, the krone held year-to-date gains of 2 percent and 3 percent over the euro and dollar respectively, although much of those gains were the result of the first 1-2 weeks of the year. EUR/NOK, at 9.661, and USD/NOK, at 7.965, were both little changed since mid-January.
Given the Norwegian economy’s reliance on energy exports, it goes without saying that oil’s rally this year towards $70 per barrel has supported a stronger krone. The currency has also benefited from a hawkish central bank. In March, the Norges Bank hinted that interest rates would rise in the autumn.
In April, analysts were optimistic about the krone. Danske bank said it saw “an appealing case for why the NOK should strengthen over the coming year” and predicted EUR/NOK at 9.1 at year-end. ING said that it favoured buying the krone against the Swedish krona.
The interactive chart below shows the NOK to USD exchange rate for the previous 3 months with rate alerts for days when the exchange rate moved up or down significantly or for 30 day highs and lows.
Bouvet Island Trip Checklist
- Compare NOK travel cash rates - probably why you are here!
- Lonely Planet - world's best travel guide (coupon and deals)
Travel money for Bouvet Island
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.
Travel Money Exchange Rates Compared
Buying NOK Cash with USD 1,000
Rate timestamp : Sat Jun 23 2018 23:00:03 GMT+0000 (UTC)
Sending money to Bouvet Island
When searching around for information on how to get a good exchange rate when sending money to Bouvet Island you need to start with finding out the latest Norwegian krone foreign-transfer exchange rate.
Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees to see how much you can save (we make that calculation easy here).
Getting a better deal when sending money 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 our Send to NOK 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!
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Compare Foreign Transfers
Sending USD 10,000 to NOK
Rate timestamp : Sat Jun 23 2018 23:04:01 GMT+0000 (UTC)