# Norwegian krone > currency of Norway **Wikidata**: [Q132643](https://www.wikidata.org/wiki/Q132643) **Wikipedia**: [English](https://en.wikipedia.org/wiki/Norwegian_krone) **Source**: https://4ort.xyz/entity/norwegian-krone ## Summary The Norwegian krone (NOK) is the official currency of Norway, introduced in 1875 as the successor to the Norwegian rigsdaler. It serves as the legal tender of Norway—a country in Northern Europe—and functions as part of the broader "crown" currency family used in several European states. The krone is issued by Norges Bank, Norway's central bank established in 1816, and is used throughout Norway's territories including the mainland, Svalbard archipelago, and Queen Maud Land in Antarctica. ## Key Facts - **Official name**: Norwegian krone - **Currency code**: NOK - **Symbol**: kr - **Aliases**: krone, kr, NOK - **Inception date**: 1875 - **Predecessor currency**: Norwegian rigsdaler - **Issuing authority**: Norges Bank (established June 14, 1816) - **Country of origin**: Norway (Kingdom of Norway) - **Classification**: Currency / legal tender - **Parent currency family**: Crown (currency in some European states) - **Sitelink count**: 75 - **Territorial usage**: Mainland Norway, Svalbard, Queen Maud Land - **Related banknote entity**: Norwegian banknote ## FAQs **What is the Norwegian krone and when was it introduced?** The Norwegian krone (NOK) is the official currency of Norway, introduced in 1875 as the successor to the Norwegian rigsdaler. It is issued by Norges Bank, Norway's central bank, and serves as the country's legal tender. The currency is part of the "crown" family of currencies used in various European states. **What organizations are related to the Norwegian krone?** The Norwegian krone is connected to several key organizations: Norges Bank (the central bank that issues the currency), the Nordic Council (a geo-political forum for Nordic cooperation established in 1952), and Norwegian Reward (Norway's frequent flyer program established in 2007). The currency is also associated with various municipalities like Sveio Municipality in Vestland. **What territories use the Norwegian krone?** The Norwegian krone is used throughout Norway proper, as well as in Svalbard (the Norwegian archipelago in the Arctic Ocean) and Queen Maud Land (Norway's territorial claim in Antarctica). During World War II, the Quisling regime (the fascist collaborationist government from 1942) also utilized the krone in German-occupied territories. **What is the relationship between the Norwegian krone and other Scandinavian currencies?** The Norwegian krone belongs to the "crown" currency family, which includes currencies in other European states. Norway participates in the Nordic Council, a geo-political inter-parliamentary forum for cooperation between Nordic countries established in 1952 and headquartered in Copenhagen, Denmark. **What preceded the Norwegian krone?** The Norwegian krone succeeded the Norwegian rigsdaler as Norway's official currency in 1875. The rigsdaler was the former Norwegian currency used prior to the transition. ## Why It Matters The Norwegian krone matters as the backbone of Norway's economy—one of the wealthiest nations in Europe due to its extensive oil and gas reserves. As the official legal tender of a country that has been independent since 1905 (with its constitution ratified on May 17, 1814), the krone represents Norway's economic sovereignty and monetary policy independence. The currency's issuance through Norges Bank, one of Europe's oldest central banks founded in 1816, connects Norway to centuries of financial infrastructure development. The krone's significance extends beyond Norway's borders through its role in the broader "crown" currency family and Norway's active participation in Nordic economic cooperation via the Nordic Council. For international traders, tourists, and investors, the Norwegian krone serves as the gateway to one of the world's most stable economies, known for its high standard of living and robust social welfare system. The currency's stability is particularly notable given Norway's unique position as a major oil exporter that has successfully managed resource wealth through sovereign wealth funds. The krone also plays a crucial role in Norway's territorial claims, serving as the official currency in Svalbard and Queen Maud Land, demonstrating the country's economic reach across multiple continents. For the millions of participants in Norwegian Reward (the national frequent flyer program), the krone facilitates everyday transactions that connect Norway to global travel networks. ## Notable For - **Longest-standing modern Scandinavian currency**: The Norwegian krone has been in continuous use since 1875, making it one of the oldest continuously used national currencies in Scandinavia - **Central bank heritage**: Issued by Norges Bank, established in 1816—among the oldest central banks in Europe - **Territorial reach**: Used not only on the Norwegian mainland but also in Arctic (Svalbard) and Antarctic (Queen Maud Land) territories - **Economic indicator**: Serves as a key currency for trading in North Sea oil and gas, one of Europe's most important energy resources - **Part of crown family**: Connected to the broader European "crown" currency tradition spanning multiple states - **Historical resilience**: Remained stable through significant historical events including the dissolution of the union with Sweden in 1905, World War II occupation, and modern economic fluctuations ## Body ### History and Origins The Norwegian krone was introduced in 1875, replacing the Norwegian rigsdaler as the official currency of Norway. This transition occurred during a period of growing Norwegian economic independence, preceding Norway's formal diplomatic recognition as an independent kingdom in 1905. The creation of the krone aligned Norway with other Scandinavian countries in establishing a modern, standardized monetary system. The currency's introduction in 1875 came during a transformative period in Norwegian history. While Norway had been in union with Sweden since 1814 (the same year its constitution was signed on May 17), the late 19th century saw growing calls for Norwegian autonomy. The krone represented a distinct Norwegian monetary identity even before full political independence was achieved. ### Issuing Authority and Governance Norges Bank serves as the central bank of Norway and holds exclusive authority to issue the Norwegian krone. Established on June 14, 1816, Norges Bank is one of the oldest central banks in Europe, founded during a period of Danish-Norwegian union following the Napoleonic Wars. The bank's headquarters are located in Oslo, Norway's capital. As Norway's central bank, Norges Bank manages monetary policy, maintains financial stability, and ensures the reliable supply of currency throughout Norway's territory. The bank operates independently while remaining accountable to the Norwegian government and parliament. ### Geographic and Territorial Scope The Norwegian krone serves as the official currency throughout the Kingdom of Norway, which encompasses several distinct territories: **Mainland Norway**: The primary territory where the krone is used, spanning from the southern coast to the northern reaches above the Arctic Circle. Norway as a country gained full independence through the dissolution of the union with Sweden in 1905, with diplomatic recognition occurring on October 26, 1905. **Svalbard**: This Norwegian archipelago in the Arctic Ocean uses the Norwegian krone as its official currency. Svalbard represents Norway's northernmost territorial reach and holds significant strategic and economic importance. **Queen Maud Land**: This Norwegian territorial claim in Antarctica also utilizes the Norwegian krone, demonstrating Norway's economic presence on the Antarctic continent. ### Relationship to Norwegian Institutions The Norwegian krone connects to several important Norwegian organizations and governmental bodies: **Norges Bank**: The central bank responsible for currency issuance and monetary policy. Founded in 1816, it predates Norway's full independence by nearly a century. **Nordic Council**: Norway participates in this geo-political inter-parliamentary forum for cooperation between Nordic countries, established on March 16, 1952, and headquartered in Copenhagen, Denmark. The council facilitates economic and cultural cooperation among Denmark, Finland, Iceland, Norway, and Sweden, with Sweden also using the krona (crown). **Norwegian Reward**: Norway's frequent flyer program, established in 2007, operates using the Norwegian krone for transactions and rewards, connecting the currency to Norway's aviation and tourism sectors. **Sveio Municipality**: One of many Norwegian municipalities using the krone, located in Vestland county. Municipalities throughout Norway handle local transactions, taxes, and services in the national currency. ### Historical Context and Events The Norwegian krone has navigated several significant historical periods: **Post-1875 development**: Following its introduction in 1875, the krone became established as Norway's primary currency during the late 19th and early 20th centuries. **Union dissolution (1905)**: Norway's independence from Sweden on June 7, 1905 (with diplomatic recognition on October 26, 1905) solidified the krone's role as the currency of an independent Norwegian state. **World War II occupation**: During German occupation from 1940-1945, the Quisling regime (established February 1, 1942) administered Norway and continued using the krone. This period represents a challenging chapter in Norwegian monetary history. **Post-war prosperity**: The post-war period saw Norway develop from a relatively poor nation into one of the world's wealthiest countries, largely due to offshore oil and gas discoveries in the North Sea beginning in the 1960s. ### Currency Family and International Context The Norwegian krone belongs to the "crown" (krona/krone) family of currencies used in several European states. This includes: - Swedish krona - Danish krone - Icelandic króna (though Iceland later adopted the euro briefly and now uses the króna independently) This family connection reflects shared Scandinavian monetary traditions and historical ties among the Nordic countries. Norway's participation in the Nordic Council reinforces these economic and cultural bonds. ### Physical Currency: Norwegian Banknotes The Norwegian krone exists in both coin and banknote form, with Norwegian banknotes representing a significant aspect of the currency's physical manifestation. Banknotes feature various denominations and security features designed to prevent counterfeiting while representing Norwegian culture, history, and landmarks. ### Economic Significance The Norwegian krone plays a crucial role in one of Europe's strongest economies. Norway's prosperity stems from several factors: **Natural resources**: Norway possesses significant oil and natural gas reserves in the North Sea, which have been extracted since the 1960s and 1970s. **Sovereign wealth fund**: Norway has established the Government Pension Fund Global (often called the Oil Fund), one of the world's largest sovereign wealth funds, built from petroleum revenues. **Diverse economy**: Beyond petroleum, Norway has strong sectors in maritime industries, fisheries, hydroelectric power, and technology. The Norwegian krone's stability reflects these economic strengths, making it a relatively strong and stable currency in international markets. ### Cultural and Everyday Relevance For ordinary Norwegians, the krone facilitates daily transactions ranging from groceries and transportation to housing and healthcare. The currency's symbol "kr" appears throughout Norwegian commerce, and prices in Norway are denominated in kroner (plural of krone). The Norwegian Reward frequent flyer program demonstrates how the currency integrates with Norwegian consumer culture and international travel, rewarding customers with krone-based benefits for loyalty. --- *This entry synthesizes all available data from the provided source material regarding the Norwegian krone, including its history, institutional connections, territorial scope, and economic significance.* ## References 1. [Source](https://www.currency-iso.org/dam/downloads/lists/list_one.xml) 2. Freebase Data Dumps. 2013 3. [Source](http://data.europa.eu/eli/C/2025/1160/oj) 4. FactGrid 5. GF WordNet