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AUD/NOK - Convert Compare Save

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 to NOK interbank exchange rate = 6.009

 
 

Exchange Rate Checker

If you have been offered/charged an exchange rate then enter it below to check the true cost to the latest interbank mid-rate.

 
   

Compare savings on AUD/NOK exchange rates

Foreign Transfers Travel Money

Foreign Transfers Travel Money

   

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 mid-June, the Australian dollar slumped to multi-month lows against SGD, CAD, JPY, CHF, USD and EUR. At US68.7¢, the benchmark Aussie rate, AUD/USD, was 16 percent below its highest rate from 2018.

Investors are selling AUD as they bet on aggressive interest rate cuts by the Reserve Bank of Australia. These cuts will be necessary, investors believe, in light of persistently soft domestic data and the fallout from a US-China trade standoff that shows no sign of nearing an end, or even easing.

The RBA is likely to cut interest rates in July, as it did in June (the first cut in 3 years), and will probably cut again later this year. Although this bodes poorly for the Aussie, it won’t be the only currency this year to be hit by easier central bank policies, and that should keep depreciation at reasonable levels.

Interestingly, AUD has, for now at least, decoupled from commodity prices. The price of iron ore (Australia’s largest export) is at multi-year highs while AUD languishes.

Read more in the article AUD Forecasts.

 

Norwegian Krone (NOK)

In the second half of April, the Norwegian krone rallied to a 5-month high against the euro, at Kr9.56, and was strong against other major currencies. Strength was fuelled by a thriving oil market. Oil, Norway’s largest export, was up 44 percent on the year by April-20, to $65 per barrel. Also boosting the krone in April were better-than-expected inflation figures — inflation is now 2.9 percent, more than double that in the Euro Area (1.4 percent).

As expected, Norway's central bank raised interest rates to 1 percent in March. Tighter Norwegian monetary policy throughout 2019 would support the krone, especially if the ECB fails to raise rates.

Earlier this year, Lloyds predicted EUR/NOK at 9.4 at year-end. That level represents a major resistance point for the krone; EUR/NOK hasn’t broken below 9.4 since October 2017.

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.

 

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