GBP/NOK update & alerts
1 GBP = 12.05 NOK
Sell GBP - Buy NOK Invert
GBP/NOK Exchange Rates and Providers Compared
This guide to the British Pound Sterling to Norwegian Krone exchange rate with 90-day chart & alerts, historic rates, forecasts and GBP 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 GBP/NOK Quick Calculator.
GBP and NOK in the Markets
When determining the best time to make a foreign exchange transaction, in this case the GBP vs NOK, you should pay attention to the recent market trends for both currencies.
British Pound Sterling (GBP)
Friday's election outcome could be the difference between the GBP/USD rate finishing the year either nearer to the low 1.20s or mid to high 1.30sSterling has climbed more than 9 per cent against the US dollar and even more against other currencies (since early October) during the election campaigning and since Boris Johnson announced a new Brexit agreement with Brussels that has reduced the possibility of the UK crashing out of the EU without a deal.
The pound would be doing far worse if it weren't receiving some support from the Bank of England which, surprisingly, is the only major central bank still considering higher interest rates in 2019.
Earlier in the year the pound was the worst-performing major currency by some margin. It slipped in late June to multi-month lows against a number of important currencies, including the Australian dollar, New Zealand dollar, euro, Canadian dollar and Swiss franc.
For GBP forecasts and predictions read our British Pound Forecasts summary.
Read more in the article GBP 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 GBP/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 GBP / 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.
We help you Compare & Save Money on Exchange Rates.
View all GBP Exchange Rates