Norway’s Krone Falls on Central Bank Warning

The Norwegian krone slid today versus the world’s main traded currencies, as the nation’s benchmark interest rates were maintained on hold by the nation’s central bank, and are unlikely to be raised as soon as speculators hoped.

The krone fell today versus the euro and the U.S. dollar as the Norges Bank stated that a strong currency will delay eventual rate hikes, forcing the Nordic currency down after the crude oil, one of the country’s main exports, also declined globally.

USD/NOK traded at 5.8685 as of 20:51 from an opening rate of 5.8360 this Wednesday.

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