USD/NOK is a currency pair that reflects the relationship of two currencies: US dollar and Norwegian krona. It is used as a trading instrument in the Forex interbank currency exchange market.
Definition
Submitted by the currency pair belongs to the "exotic"group. The relationship of the currency pair reflects the required amount of Norwegian kroner to buy one US dollar. In this case, the US dollar acts as the base currency, and the Norwegian krone is a convertible currency. On quotes of this currency pair are influenced by several factors. On the rate of the US dollar is affected by major political and economic events, oil prices. The Norwegian krona depends on the crude oil trade and seafood exports.
Indicators of the currency pair
The presented ratio has a high volatility. The spread varies in the range up to 100 items. At the moment, the current exchange rate is set at about 5 crowns per dollar.
The peculiarity of the currency pair
The quotes of this currency pair are affected by the exchange rate of another exotic pair-USD/DKK. The exchange rate of these two pairs is in direct correlation. In the near future, the quotes of this currency pair may reach an indicator of 6 crowns per dollar.
Other information
In 2009, this pair collapsed, but experts see no reason to worry. In addition, experts predict an increase in quotations in the near and subsequent prospects.