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Norwegian Krone

About The Norwegian Krone: The Currency of Norway

Quick Facts About the Norwegian Krone Notes

Country of Origin	Norway
Symbol	kr
Currency Code	NOK
Nick Names
Minor units	øre
Denominations (Banknotes)	50, 100, 200, 500 and 1,000 kroner
Motto	ALT FOR NORGE (All for Norway)
Identification Feature	The 1000 kr note portrays wave in the sea on the obverse side
Issuing Bank	Norges Bank
In Circulation Since	1875
INR Exchange Rate	9.0994

The official unit of currency in the Kingdom of Norway is known as the krone (sometimes written as kroner). Historically and commonly, it is referred to in English as the Norwegian crown. Formally, it was divided into 100 re, but as of 2012, re coins were no longer in circulation and could not be used. The Norges Bank, which is the central bank of Norway, is responsible for overseeing the currency's value and ensuring that it is widely used. Since 1875, the Norwegian krone has served as the country's primary unit of currency. The Norwegian krone is denoted by the letter "kr," whereas the currency code "NOK" is the abbreviation for the currency. There are coins with values of one, five, ten, and twenty krone, as well as bills with values of fifty, one hundred, two hundred, five hundred, and one thousand krone.

The live Norwegian Krone rate is INR (9.0994 ) . You can keep an eye on the real-time Norwegian Krone price as per the Norwegian krone chart.

History of the Norwegian Krone

Let’s learn more about this currency and Norwegian krone exchange rate history. After the speciedaler was taken out of circulation, the krone was put into use as the primary currency. Back in those days, one speciedaler could be purchased for a total of four kroner. After the shift, Norway became a member of the Scandinavian Monetary Union, which was a monetary union that existed right up until the beginning of World War I.

During the time of the Union, the Norwegian krone was a gold-backed currency; this status lasted until 1931 when it was replaced by a peg to the British pound.

In the year 1877, the Norges Bank issued paper currency in the following denominations of Norwegian krone: 5, 10, 50, 100, 500, and 1000 kroner. Banknotes costing 1 krone were issued for circulation beginning in 1917, whereas those worth 2 kroner did not enter circulation until 1918 and remained in circulation until 1922.

The demonetisation of the five krone notes occurred in 1963, while the demonetisation of the ten krone notes occurred in 1984. The value of one Norwegian krone was first fixed in relation to one United States dollar in 1939; however, when Germany occupied Norway during World War II, the value of one Norwegian krone was fixed in relation to one Reichsmark. In 1971, the Norwegian krone was decoupled from the dollar and allowed to float freely on the market. Subsequently, it was pegged to a currency basket.

In 1992, the central bank did away with the practice of maintaining a constant exchange rate, instead allowing the value of the currency to fluctuate according to the exchange rate at which it was traded in relation to other currencies.

Countries Accepting the Norwegian Krone

The Norwegian Krone is the only currency that can be used for purchasing goods and services in Norway because it is the country's sole legal tender.

Amount in the Norwegian Krone You Should Carry for Your Trip

The amount of money you on flights to Norway, staying there, and dining, while you're there, will all have an impact on the budget you set aside for your vacation. To meet the normal costs of a trip to Norway, visitors on a limited budget should set aside close to kr444 per day in spending money in order to prepare for their vacation adequately. When you factor in the cost of private transportation, meals at high-end restaurants and staying in top-rated properties, the average daily cost of a luxury vacation can easily approach kr2,300. Between kr1,000 and kr4,000 is what you can expect to spend on a holiday in Norway for two people on average.

Prices for a night's stay in a Norway hotel can range anywhere from kr220 to kr1,176 per individual, depending on the hotel. If you take the bus wherever you go or pay for pricey taxi rides, the amount that you spend on transportation on a daily basis could range anywhere from kr65 to kr436 depending on which option you choose.

You can check the Norwegian krone exchange rate today in order to plan a cost-effective vacation.

Best Ways to Identify Counterfeit Norwegian Krone Notes

There are a few ways through which you can spot the counterfeit Norwegian Krone notes:

A ring is incorporated within the rectangle that can be found in the bottom left corner of the note. When rotated in a variety of directions, the ring gives the impression that it is floating, and a parade of colours runs across the face of the banknote. In addition to that, the denomination of the currency is shown.
On the right side of the bill, there is a print of three links of an anchor chain embedded into the paper. Altering the note's angle gives the impression that the chain is moving about. Every note, with the exception of the 50-krone note, features an anchor chain.
When the note is held up to the light, a watermark that depicts the head of a puffin flying over the Atlantic Ocean as well as the denomination can be seen. The design of an Atlantic puffin can be found on each denomination.
When held up to the light, a dark line will appear on banknotes that include security threads.
There is a design on banknotes that is iridescent and printed in two colours, but it can only be seen when the note is tilted at a certain angle. On the note for 100 krone, a globe can be seen, while on the note worth 200 krone, a seamark can be seen. Additionally, the component can be found in the bottom right corner of the banknote, where it is printed in the primary colour of the denomination.
When examined with UV light, certain previously concealed design elements of the banknote are brought into view. On this coin, there is a representation of an Atlantic puffin in addition to the denominational value.
It is necessary to use a magnifying lens in order to read certain areas of the banknote because the numerals and text are quite small.

Process of Exchanging the Norwegian Krone

The process of converting the Norwegian Krone to Indian Rupee is immensely easy. Please note that the 1 Norwegian Krone to INR value is subject to change so keep an eye on the Norwegian Krone rate alert. Below, we have mentioned some of the popular ways to convert Norwegian Krones to Rupees.

Internationally-Accepted Card

A multi-currency forex card is counted among the most economical and safest way of carrying the Norwegian Krone.

The BookMyForex Multi-Currency card can be loaded in 14 currencies and features zero forex mark-up.

Online Forex Marketplace

The simplest and most cost-efficient way of converting your Norwegian Krone is using an online forex marketplace such as BookMyForex, a platform by MakeMyTrip, offering the best conversion rates and currency exchange service. The platform offers a 5-minute fully-digital online process for currency exchange.

Visiting Your Bank

The most traditional way of converting the Norwegian Krone to Rupee is by visiting a bank and standing in long queues. It is not only time-consuming but you also end up paying a high cost for making the Norwegian Krone convert to Indian Rupees.

Local Money Changers

You can look for an Authorised Dealer Category II or someone who has a money changers licence. Money exchangers offer competitive Norwegian Krone exchange rates, and you’d not need a bank account in this case. However, the process of rate haggling can be quite frustrating for those who are looking for an easy way to convert Norwegian Krone to INR.

On the other hand,BookMyForex, the online marketplace, offers internationally-accepted forex card and currency notes at the best rates via a convenient online process.

Airport

If you would like to convert the Norwegian Krone in India, one of the costliest ways to do so would be to get the Norwegian Krone exchanged at an airport due to the exorbitantly high NOK exchange rates. Currency exchange at the airport will prove to be 5%-15% costlier than BookMyForex.

Exchange the Norwegian Krone with BookMyForex

BookMyForex, the online forex marketplace by MakeMyTrip, makes it a hassle-free affair for you to convert the NOK to Indian Rupees as well as Indian Rupee to Norwegian Krone. Please note that the 1 Norwegian Krone to INR value is subject to change so keep an eye on the Norwegian Krone rate alert. You should choose MakeMyTrip for currency exchange for the following reasons:

Wide Range of Products

Forex (Currency Notes) - Available in 100+ cities across India, BookMyForex allows you to get your currency notes delivered on the same day or the next day after 100% digital booking.
BookMyForex Multi-Currency - You can load this card in 14 currencies with 0% Forex Mark-up. Once you have booked this card, you can receive it the same day (if booking is made before 1 PM) or the next.
International Travel Insurance - TripMoney also offers international travel insurance at cheapest rates in the market. Also, you can opt for this product if you’d like TripMoney to handle your mandatory travel insurance requirements along with a VISA application.
Travel Loan - With TripMoney, you can avail a travel loan of up to INR 1,00,000 (lifetime limit) for all your travel and holiday needs.

Best Exchange Rates

BookMyForex makes it easy for you to buy Norwegian Krone or sell Norwegian Krone at live and best exchange rates.

Quick Money Transfer

You can also enjoy quick international money transfers on BookMyForex. The 5-minute digital process offers the best forex rates, and you can receive funds abroad within 12 to 48 hours.

Home Delivery

BookMyForex delivers the Norwegian Krones at your doorstep. So, you can simply order and receive your currency from the comfort of your home.

Best Rates to Exchange the Norwegian Krone

You’d need to keep an eye on the current currency rates, if you’d like to know the exact value you’d get on converting 1 Norwegian Krone in Rupees. The exchange rates keep on fluctuating. BookMyForex, an online forex marketplace by MakeMyTrip, keeps you updated with the live currency exchange rates. You can keep up with the changing value of 1 Norwegian Krone in India in real-time on the platform and get the best deal. Currently, 1 NOK is equivalent to 9.0994 INR .

Best Ways to Carry the Norwegian Krone

BookMyForex allows you to convert INR to the Norwegian Krone at the best exchange rates so that you can carry the Norwegian Krones without any hassle. Some of the best ways to carry the Norwegian Krone are mentioned below:

Currency Notes

You can buy the US Dollar notes at live and best exchange rates on BookMyForex so that you can be ready for your trip with sufficient cash in your hand.

BookMyForex Multi-Currency Card - 0% Forex Mark-Up

The Multi-Currency Forex Travel Card available on MakeMyTrip with BookMyForex as the co-branding partner comes with 0% forex mark-up over interbank rates.

How to Buy the Norwegian Krone at Best Rates - Currency Notes and Cards

Whether you want to buy forex cards and currency notes or sell the Norwegian Krone, MakeMyTrip makes the entire process quite easy. It doesn’t matter whether you want to convert the Norwegian Krone to USD or INR to Norwegian Krone, you only need to follow the below-written steps:

STEP 01
Select your city from the drop-down list.
STEP 02
Choose the currency you have and the currency you want.
STEP 03
Opt for a forex card or currency notes from the list.
STEP 04
Mention the forex amount. The live currency exchange rate will show up next to it.
STEP 05
The converted currency amount according to the exchange rate will show up automatically.
STEP 06
Then proceed with booking your order.

Documents Required to Buy or Sell the Norwegian Krone

Here are some important documents mandated by the RBI that you must submit in order to buy or sell the Norwegian Krone in India.

Copies of your valid Indian passport
PAN Card
Confirmed air ticket indicating your plan to travel within 60 days
Valid visa (it may not be required for every country)

Different Purposes for Exchanging the Norwegian Krone

Private Travel: You can avail of up to NOK 10,000 for a private trip to the Norway.
Studying Abroad: You can purchase foreign exchange of up to NOK 30,000 or up to the estimate shared by your educational institute.
Employment Purpose: In case you have a letter of employment, you can buy foreign exchange of up to NOK 5,000.
Emigration: If you have an emigration visa, you can buy foreign exchange for up to NOK 5,000.
Gift and Donation: You can gift or donate up to NOK 5,000 annually on the basis of self-certification
Medical Treatment: On the basis of self-certification, you can buy foreign exchange of up to NOK 50,000 for medical treatments outside of India. Once the limit is surpassed, you have to provide the estimated expense that would be incurred at the hospital.

Buy and Sell the Norwegian Krone Online at Best Exchange Rates

With BookMyForex, the online forex marketplace by MakeMyTrip, you can easily convert your currency. Enjoy unbeatable currency exchange rates and opt for BookMyForex Multi-Currency Cards as well as foreign currency notes. with no forex mark-up. MakeMyTrip also present the real-time value of one Norwegian Krone in Indian Rupees so that you can stay updated with the ever-changing Norwegian Krone value when converting your money to other currencies.

Home Delivery of the Norwegian Krone

In addition to a smooth online process, BookMyForex also delivers the Norwegian Krones right at your doorstep. In fact, you can enjoy same-day door delivery. So, you do not have to waste any time visiting a local money exchanger and picking up your money.

Other currencies to INR Conversion

Frequently Asked Questions

How do I get cashback after placing my forex order?
Find out more about the cashback offer on your Norwegian Krone (NOK) purchase by clicking here.
What is the best way to convert NOK to INR?
You can convert NOK to INR using different methods such as visiting a nearby bank or an airport counter. However, both of these methods will prove to be time-consuming as well as costly. There are local money exchangers available but you might need to indulge in negotiations with them. Therefore, MakeMyTrip, powered by BookMyForex, is the perfect way to convert your currency. This online Forex solution offers currency exchange at live rates and delivers currency notes or Forex cards to your doorstep.
What will happen to the leftover Norwegian Krone currency when I return from my trip?
You can easily exchange any leftover currency notes or the money left in your Forex card with MakeMyTrip, powered by BookMyForex, once you have returned from your trip.
Can I invest in the Norwegian Krone?
Yes, you can invest in the Norwegian Krone via mutual funds, ETFs, or ETNs. However, you should keep an eye on market fluctuation and geopolitical concerns.
Will I receive authentic Norwegian Krone notes?
Yes. MakeMyTrip offers genuine notes from RBI-licensed companies only.
Is it legally allowed to hold Norwegian Krone in India?
While it is acceptable to hold the Norwegian Krone up to the amount authorised by RBI, you cannot use this currency for any kind of transaction in India.
What if I run out of the Norwegian Krone currency while travelling?
If you are carrying a MakeMyTrip multi-currency Forex card while travelling, then you can easily load it up and receive the money abroad within 48 hours.