The British pound to the Norwegian krone is distinguished by the stability and predictability of the economy of Norway and the UK.
Norway is an agrarian-industrial country that occupies leading positions on the quality of life and income levels of the population. Norway is one of the first places in extraction and export of raw materials (oil, gas), therefore fluctuations in the cost of raw materials affect the national currency of the Scandinavian country. Also the main income item of Norway is the extraction and processing of seafood.
The leading direction of the British economy is the service sector. The UK provides 10% of the world's export of services, including banking, brokerage, advisory and programming services. The second most important sector of the UK economy is industry: mining (2.2% of GDP) and manufacturing (14.7% of GDP). Mechanical engineering, transport, industrial goods and chemicals are the main directions of the country's exports. Oil production since the 1970s brought substantial profits in trade and allowed the country to reduce imports of petroleum products.
Using the current exchange rate chart, you can monitor the volatility of the currency pair in real time.
The GBP / NOK pair is built on the principle of direct quotation. The base currency is GBP, the British pound, and quoted - NOK, the Norwegian krone. The appreciation of the currency pair means the strengthening of the British pound against the Norwegian koruna, that is, to buy one GBP, more NOK is needed. A decrease in the rate indicates the strengthening of the Norwegian krone.
Norwegian krone (bank code: NOK) - is the official currency of the Kingdom of Norway. The Norwegian bank (Norges Bank) is the issuer of the Norwegian krone and conducts a monetary policy, including setting interest rates, which are now close to zero. The unofficial name is "nokki".
British pound, pound sterling or pound - (currency symbol: £, Bank code: GBP) is a currency that acts as the national currency of the United Kingdom of Great Britain and Northern Ireland (Great Britain), including England, Scotland, Wales and Northern Ireland. Also, the pound is a parallel currency of the crown lands of Guernsey, Jersey and the Isle of Man. The pound sterling is a legal tender for the British overseas territories: the Falkland Islands, Gibraltar, St. Helena, Ascension and Tristan da Cunha. The Bank of England has the right of money issue and regulation.
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