19 July 2024 at 20:49 Strong krone fall The Norwegian krone weakened widely on Friday evening. A euro now costs NOK 11.90, while a dollar costs NOK 10.94. The dollar and the euro have strengthened by well over 1 percent against the krone today. It is happening after several days of weaker krone exchange rates. The krone is weakening today after the price of oil fell by 2.4 per cent. The krone tends to weaken in the event of a sharp fall in oil prices. At the same time, there is little risk appetite in the market with the stock market falling in the USA tonight. Economists are worried that a weaker krone will lead to higher price growth in Norway again because everything from abroad will become more expensive. This increases the risk that Norges Bank will have to raise interest rates again.
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