Strong economy and low unemployment rate on Tuesday currency traders Norwegian currency, KroneSince the pandemic first hit the country in March 2020, it falls to the weakest level against the US dollar.
It cost NOK 9.93 to buy US $ 1 on Tuesday morning. It took 10.02 Norwegian krone by Tuesday evening. The cost of the euro is 10.44 Norwegian krone and the cost of the British pound is 12.02 Norwegian krone.
Analysts pointed out that Norwegian krone tends to weaken as the risk of global financial markets increases. Diving stock markets around the world may have played a role on Monday, but the US dollar is also very high. It is still considered one of the safest currencies in the world, especially when problems arise. Russia’s President Vladimir Putin’s war against Ukraine has certainly caused many problems.
The value of krone for the dollar has been the weakest since May 2020, when it cost 11 krone or more to buy one dollar.Oslo newspaper commentator Dagens Næringsliv (DN) He said the Norwegian interest rate market is depleted in liquidity and investors are looking for “safe ports” such as the dollar and the euro.
The Norwegian central bank is widely expected to raise interest rates next week to reduce the country’s rising inflation rate. It may also enhance Krone somewhat.
newsinenglish.no/Nina Berglund
