Currency pair Swiss franc - Norwegian Krone (CHF / NOK) is a pair of two stable European economies.
Switzerland is in the second ten countries in terms of industrial production and the top ten in terms of income per capita. About a third of the products are exported. High quality products provide good demand and, as a result, a stable high positive trade balance. Switzerland hosts the headquarters of a number of global pharmaceutical and chemical corporations. Its contribution to GDP is made by manufacturers of luxury goods, including watches.
Norway, like Switzerland, has a very high standard of living, while the basis of its economy is natural resources - oil production, hydropower, fish resources. At the same time, the share of the public sector in Norway's GDP is very high.
When trading forex currency pair CHF / NOK, it is necessary to take into account that the Norwegian krona can be influenced by the price of oil, although in most cases, the "nokki" follows the euro.
The CHF / NOK currency pair is built on the principle of direct quotation. The base currency is CHF - Swiss franc, and quoted - NOK, Norwegian krone. The appreciation of the currency pair means the strengthening of the Swiss franc against the Norwegian koruna, that is, the purchase of one CHF requires more NOK. A decrease in the exchange rate indicates a strengthening of NOK.
Using the current exchange rate chart, you can monitor the volatility of a currency pair in real time.
The Swiss franc (bank code CHF) is the official currency of the Swiss Confederation and the Principality of Liechtenstein. Traders usually call it "Swissie", by the way in Europe it is the only remaining franc.
In Switzerland, there are four official languages, which affected the writing of the currency name on banknotes: Franken (in German), franc (in French and Romansh), franco (in Italian).
The issuer of the currency is the Swiss National Bank (Schweizerische National bank, Banque Nationale Suisse, Banca Naziunala Svizra, Banca Nazionale Svizzera), it also conducts monetary and exchange policies that serve the interests of the country.
Norwegian krone (bank code NOK) - norsk krone - is the official currency of the Kingdom of Norway. The Norwegian bank (Norges Bank) is the issuer of the Norwegian krone and conducts monetary policy, including setting interest rates, which are now close to zero.
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