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.

Chinese Yuan Renminbi

Chinese Yuan Renminbi

The renminbi (Ab.: RMB; simplified Chinese: 人民币; traditional Chinese: 人民幣; pinyin: rénmínbì; literally: "people's currency"; sign: 元; code: CNY) is the official currency of the People's Republic of China. The yuan (Chinese: 元; pinyin: yuán) is the basic unit of the renminbi, but is also used to refer to the Chinese currency generally, especially in international contexts where "Chinese yuan" is widely used to refer to the renminbi. The distinction between the terms renminbi and yuan is similar to that between sterling and pound, which respectively refer to the British currency and its primary unit. One yuan is subdivided into 10 jiao (Chinese: 角; pinyin: jiǎo), and a jiao in turn is subdivided into 10 fen (Chinese: 分; pinyin: fēn). The renminbi is issued by the People's Bank of China, the monetary authority of China.Until 2005, the value of the renminbi was pegged to the US dollar. As China pursued its transition from central planning to a market economy, and increased its participation in foreign trade, the renminbi was devalued to increase the competitiveness of Chinese industry. It has previously been claimed that the renminbi's official exchange rate was undervalued by as much as 37.5% against its purchasing power parity. More recently, however, appreciation actions by the Chinese government, as well as quantitative easing measures taken by the American Federal Reserve and other major central banks, have caused the renminbi to be within as little as 8% of its equilibrium value by the second half of 2012. Since 2006, the renminbi exchange rate has been allowed to float in a narrow margin around a fixed base rate determined with reference to a basket of world currencies. The Chinese government has announced that it will gradually increase the flexibility of the exchange rate. As a result of the rapid internationalization of the renminbi, it became the world's 8th most traded currency in 2013, and 5th by 2015.On 1 October 2016, the RMB became the first emerging market currency to be included in the IMF's special drawing rights basket, the basket of currencies used by the IMF (reserve currency).

1 Norwegian Krone to Chinese Yuan Renminbi exchange rates chart

1 NOK to CNY exchange rates graph
1 NOK to CNY 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.

1 NOK to CNY exchange rates table

Exchange NOK to CNY
1 Norwegian Krone = 0.827 Chinese Yuan Renminbi
2 Norwegian Krone = 1.654 Chinese Yuan Renminbi
5 Norwegian Krone = 4.135 Chinese Yuan Renminbi
10 Norwegian Krone = 8.270 Chinese Yuan Renminbi
Exchange Norwegian Krone to Chinese Yuan Renminbi
1 Norwegian Krone to Chinese Yuan Renminbi 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.

Best NOK/CNY rate at Bank of China in Shanghai

1 NOK to CNY exchange rates at Bank of China in Shanghai
1 Norwegian Krone = 0.791 Chinese Yuan Renminbi
Bank of China
Bank of China

Bank of China was formally established in February 1912 following the approval of Dr. Sun Yat-sen. From 1912 to 1949, the Bank served consecutively as the country’s central bank, international exchange bank and specialised international trade bank. Fulfilling its commitment to serving the public and developing China’s financial services sector, the Bank rose to a leading position in the Chinese financial industry and developed a good standing in the international financial community, despite...

Best NOK/CNY rate at DNB in Oslo

1 NOK to CNY exchange rates at DNB in Oslo
1 Norwegian Krone = 0.738 Chinese Yuan Renminbi
DNB
DNB

DNB ASA (formerly DnB NOR ASA) is Norway's largest financial services group with total combined assets of more than NOK 1.9 trillion and a market capitalisation NOK 164 billion as per 20 May 2016. The Group includes brands such as DNB, Vital, Nordlandsbanken, Cresco, Postbanken, DnB NORD and Carlson. DNB's head office is located in Oslo. The two largest owners of DNB are the Norwegian Ministry of Trade and Industry (34.0%) and Sparebankstiftelsen DnB NOR (10.0%). The latter was created as a...

1 NOK to CNY 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
METALS-Nickel drops for 3rd session to 11-mth low on strong dollar

Nickel prices on both the London and Shanghai exchanges fell on Monday to near 11-month lows due to pressure from a strong U.S. dollar and concerns over economic growth in China.

indicative positive
China reports new African swine fever outbreak in Anhui province
China reports new African swine fever outbreak in Anhui province

Outbreak infects 96 pigs on Anhui farm, killing 47; China has reported over 50 African swine fever cases since Aug; Pork producer Tangrenshen says.

indicative neutral
China's Ruyi, pretender to LVMH's throne, plots more "affordable luxury" deals
China's Ruyi, pretender to LVMH's throne, plots more "affordable luxury" deals

HONG KONG/BEIJING, Nov 12- China's acquisitive apparel firm Shandong Ruyi is targeting more global deals involving "affordable luxury" brands, under.

indicative positive
BRIEF-Beijing Qianjing Landscape Plans Share Private Placement To Fund Projects, Replenish Capital

Nov 11 (Reuters) - Beijing Qianjing Landscape Co Ltd : * SAYS IT AIMS TO RAISE UP TO 530 MILLION YUAN ($76.20 million) IN SHARE PRIVATE PLACEMENT TO FUND PROJECTS, REPLENISH CAPITAL Source text in Chinese: ...

indicative negative
Investors chew over Chinese firm's plan to pay bond interest in ham

SHANGHAI, Nov 9- A Chinese livestock company squeezed for cash has proposed to bondholders a plan to pay them some of the interest owed with ham and.

conditional positive

1 NOK to CNY currency converter