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AUD to NOK - Rate Guide

Australian Dollar to Norwegian Krone exchange rates aren't all the same.

The total cost you are charged by your bank or foreign exchange provider consists of a margin from the interbank mid-rate plus fees. These margins and fees vary significantly for International Money Transfers and Travel Money transactions as shown below.

 

AUD/NOK update & alerts

1 AUD = 6.2439 NOK

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AUD to NOK - Trading Range (90 Day)
14-DAY HIGH (2d)
90-DAY TREND: At 6.2415 AUD/NOK is trading 0.6% above the average 6.2039 with a range 6.099 to 6.338. There are no current alerts.
Update: 06-Dec 16:01-EST 21:01-GMT 08:01-AEDT(+1D)

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AUD/NOK Exchange Rates and Providers Compared

This guide to the Australian Dollar to Norwegian Krone exchange rate with 90-day chart & alerts, historic rates, forecasts and AUD to NOK comparison tables for foreign transfers and travel money rates and fees on offer by banks and foreign exchange providers. If you want to calculate equivalent amounts in foreign currencies or rate margins then use our AUD/NOK Quick Calculator.

AUD and NOK in the Markets

When determining the best time to make a foreign exchange transaction, in this case the AUD vs NOK, you should pay attention to the recent market trends for both currencies.

Australian Dollar (AUD)

In November it was all downhill traffic for the Australian dollar dropping back from highs close to 70c at the beginning of the month to around 67c against the USD by month end. At the end of October the AUD had surged to a three month high against the US dollar following the third rate cut in a year by the US Federal Reserve. The gains were mainly due to the fall in the US dollar after the market sensed that US rates are more likely to rise now than fall further.

The RBA also added to the positive sentiment with an optimistic assessment of easing risks from the US-China trade war and Brexit. Accordingly markets are pulling back from bets that the cash rate will drop to 0.5 per cent and the possible start of quantitative easing.

Interestingly, AUD has decoupled from commodity prices in 2019. The price of iron ore (Australia’s largest export) nears multi-year highs while AUD languishes.

Further RBA interest rate cuts this year are now a certainty, and that doesn’t bode well for currency valuations. Westpac has predicted three cuts this year.

Read more in the article AUD Forecasts.

 

Norwegian Krone (NOK)

Sentiment on the krone improved drastically in June after Norway’s central bank raised interest rates and signalled further hikes this year, thereby bucking the trend for lower-rates globally.

Prior to this, against the US dollar, the krone had tested the massive 8.8 per USD level, a break of which would have had the krone at its weakest level in 3 years. The greenback was back buying 8.5 krone at the time of this report.

Late last year, against the euro, the krone struck a 10-year low of 10.057 per EUR; it has since recovered to levels near 9.65.

Danske Bank said following June’s meeting of the Norges Bank that it favoured more krone strength in the third quarter.

Why can't I just get the AUD/NOK market rate I see online or in the media?

The mid-rate is the rate you will see quoted online or the news. It is actually just the half-way point (hence mid-rate) between the last rate at which the AUD / NOK was traded (bought or sold) in the international markets.

All foreign exchange providers charge a fee for providing their service and this fee is usually contained within the exchange rate margin (or difference to the mid-rate). Some providers such as Transferwise will quote you the mid-rate (or close to) and charge a separate percentage fee.

Getting a good market rate is mainly about timing however the transaction margin you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for travel money and possibly over 5% to 6% when sending money. The exact potential savings depends on the currencies being exchanged and the amount you are transferring and if you are willing to shop around.

Our real-time foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.

We help you Compare & Save Money on Exchange Rates.

 

View all AUD Exchange Rates