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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.

Polish Zloty (PLN)

No recent Polish Zloty market updates.

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 NOK / PLN 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.