Norwegian krone

Krone

Norsk krone (Norwegian)
100 kroner banknote obverse
ISO 4217
Code	NOK (numeric: 578)
Subunit	0.01
Unit
Plural	kroner
Symbol	kr‎
Denominations
Subunit
1⁄100	øre
Plural
øre	øre
Banknotes
Freq. used	50, 100, 200, 500 kroner
Rarely used	1000 kroner
Coins	1, 5, 10, 20 kroner
Demographics
Date of introduction	1875 (1875)
Replaced	Norwegian speciedaler
User(s)	Kingdom of Norway
Issuance
Central bank	Norges Bank
Website	www.norges-bank.no
Valuation
Inflation	2.6%
Source	Norges Bank, August 2024
Method	Consumer price index

The krone (Norwegian: [ˈkrûːnə], abbreviation: kr (also NKr for distinction); code: NOK), plural kroner, is the currency of the Kingdom of Norway (including overseas territories and dependencies). It was traditionally known as the Norwegian crown in English; however, this has fallen out of common usage. It is nominally subdivided into 100 øre, although the last coins denominated in øre were withdrawn in 2012.

The krone was the thirteenth-most-traded currency in the world by value in April 2010, down three positions from 2007.^[1]

The Norwegian krone is also informally accepted in many shops in Sweden and Finland that are close to the Norwegian border, and also in some shops in the Danish ferry ports of Hirtshals and Frederikshavn. Norwegians spent 14.1 billion NOK on border shopping in 2015 compared to 10.5 billion NOK spent in 2010. Border shopping is a fairly common practice amongst Norwegians, though it is seldom done on impulse. Money is spent mainly on food articles, alcohol, and tobacco, in that order, usually in bulk or large quantities. This is due to considerably higher taxes and fees on tobacco and alcohol purchased domestically in Norway.^[2][3]