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TELL US: How is Norway's weak krone affecting you?

TELL US: How is Norway's weak krone affecting you?
Tell us how Norway's weak krone is affecting you. Pictured is a jar of coins.Photo by Josh Appel on Unsplash

Norway's currency, the krone, is down considerably to the euro, dollar and pound. But how have you been affected by Norway's ailing currency? Take a few minutes to fill out our survey.

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Norway's krone has considerably decreased to most major currencies since the turn of the year. Compared to the euro, dollar and pound, it is down around 20 per cent over the past year.

This means less value for money when using the currency abroad; for foreign residents, this may mean more expensive trips home.

In the longer term, a weak krone can push up prices as the cost of importing goods becomes more expensive and can drive up interest rates, as a low-key policy rate has been pointed to as a factor behind the struggling currency.

Still, if you have an income in a currency other than the krone, then the recent struggles actually mean more value for money if you are using that income in Norway. Furthermore, a weak krone also spells good news for tourists in Norway, who are getting more value for money if using the pound, dollar and euro.

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But how is the weak krone affecting you? Has it been a costly burden, a nice surprise, or have you barely noticed that it's struggled against other currencies?

Please take a couple of minutes to fill out our survey below, and we will try and include the best answers in a future article.

 

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