interest rate cut led to the value of the Norwegian kroner fell Thursday.
According to NRK, there 14 years ago, the Norwegian krone was so weak compared to the neighboring currency. A Swedish crown cost Thursday afternoon 96 Norwegian ear.
– We must return to the summer of 2000 to find an equally strong Swedish krona. Herein lies perhaps something of what you want to achieve, that it becomes less attractive for Norwegians to go across the border to shop, says chief economist Øystein Dørum DNB.
Krone value has fallen autumn. Norges Bank cut to a historically low base rate of 1.25 percent, it was accelerating the currency exchange.
The immediate reaction was, according Nettavisen a drop of 11 cents against the dollar and 12 cents against the euro. That means – for the first time since the financial crisis – that a euro now costs 9 million. For a dollar you must pay 7.24 Thursday morning respectively.
The impact for most people is that it becomes more expensive to travel on holiday abroad, less profitable to go harry trade to Sweden and expensive to trade in foreign online stores. But the part of the Norwegian business community who live by exports and not engaged in the petroleum industry, weakened krone good news. (AFP)
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