Norwegian Krone

Norwegian Krone

The krone [ˈkruːnə] (sign: kr; code: NOK), plural kroner, is the currency of Norway and its dependent territories. It is subdivided into 100 øre, which exist only electronically since 2012. The name translates into English as crown. The krone was the thirteenth most traded currency in the world by value in April 2010, down three positions from 2007.

IMF Special Drawing Rights

IMF Special Drawing Rights

Special drawing rights (ISO 4217 currency code XDR, also abbreviated SDR) are supplementary foreign-exchange reserve assets defined and maintained by the International Monetary Fund (IMF). The XDR is the unit of account for the IMF, and is not a currency per se. XDRs instead represent a claim to currency held by IMF member countries for which they may be exchanged. The XDR was created in 1969 to supplement a shortfall of preferred foreign-exchange reserve assets, namely gold and the U.S. dollar.XDRs are allocated to countries by the IMF. Private parties do not hold or use them. The amount of XDRs in existence was around XDR 21.4 billion in August 2009. During the global financial crisis of 2009, an additional XDR 182.6 billion were allocated to "provide liquidity to the global economic system and supplement member countries’ official reserves". By October 2014, the amount of XDRs in existence was XDR 204 billion.The value of the XDR is based on a basket of key international currencies reviewed by IMF every five years. The weights assigned to each currency in the XDR basket are adjusted to take into account their current prominence in terms of international trade and national foreign exchange reserves. In the review conducted in November 2015, the IMF decided that the Renminbi (Chinese yuan) would be added to the basket effective October 1, 2016. From that date, the XDR basket now consists of the following five currencies: U.S. dollar 41.73%, Euro 30.93%, Renminbi (Chinese yuan) 10.92%, Japanese yen 8.33%, British pound 8.09%.

11 Norwegian Krone to IMF Special Drawing Rights exchange rates chart

11 NOK to XDR exchange rates graph
11 NOK to XDR Spot rate – This is known more formally as the ‘interbank’ rate. It is the rate banks or large financial institutions charge each other when trading significant amounts of foreign currency. In the business, this is sometimes referred to as a ‘spot rate’. It is not the tourist rate and you cannot buy currency at this rate, as you are buying relatively small amounts of foreign currency. In everyday life it is the same as the difference between wholesale and retail prices. The rates shown in financial newspapers and in broadcast media are usually the interbank rates.

11 NOK to XDR exchange rates table

Exchange NOK to XDR
11 Norwegian Krone = 0.947 IMF Special Drawing Rights
22 Norwegian Krone = 1.895 IMF Special Drawing Rights
55 Norwegian Krone = 4.737 IMF Special Drawing Rights
110 Norwegian Krone = 9.475 IMF Special Drawing Rights
Exchange Norwegian Krone to IMF Special Drawing Rights
11 Norwegian Krone to IMF Special Drawing Rights Cross rate – This is the rate we give to customers who want to exchange currencies that do not involve the local currency. For example, if you want to exchange Australian dollars into US dollars.

11 NOK to XDR exchange rates news

EUR/NOK remains stable so far – Danske Bank

The Norwegian Krone appears stable following recent inflation figures and balanced positioning, noted Mikael Milhoj, Senior Analyst at Danske Bank. Key

conditional positive
Crypto Currency: Ethereum Analysis And Bitcoin’s Relative Rotation Graph

Ethereum Analysis and Bitcoin’s Relative Rotation Graph

indicative neutral
Is The Australian Dollar Signaling A Resumption Of The U.S. Dollar's Advance?

The US dollar's downside correction may have ended the middle of last week. The FOMC left little doubt that a rate hike will be delivered next month. Oil prices

conditional negative
Gold Revaluation, Stronger Rupee Lift India’s Forex Reserves: Analysts
Gold Revaluation, Stronger Rupee Lift India’s Forex Reserves: Analysts

Revaluation of gold reserves and a stronger rupee lifted India’s foreign exchange (forex) reserves by over $1 billion in the week ended November 2, analysts

conditional neutral
After weeks of fall, forex kitty jumps by over USD 1 bn to USD 393.13 bn - Times of India

India Business News: Mumbai, Nov 9 () After multiple weeks of decline, the country's foreign exchange reserves swelled by USD 1.054 billion to USD 393.132 billion in the w

indicative neutral
RMB exchange rate reform market-oriented - USA - Chinadaily.com.cn

RMB exchange rate formation mechanism reform is a significant part of deepening reform. At the beginning of reform and opening-up China adopted unified exchange rate system. From 1981 to 1984 China adopted dual exchange rate system of official exchange rate and foreign exchange internal settlement price, and from 1985 to 1993 China adopted dual exchange rate of official exchange rate and foreign exchange swap price. The exchange rate system by that time was in accordance with China's opening-up and the market mechanism reform process at the same time.

indicative positive

11 NOK to XDR currency converter