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Norwegian Krone

Wikipedia

Norwegian Krone


Down 20%

The end of the oil bubble has contributed to the big fall in the Norwegian currency. The Bank of Norway's recession-fighting efforts haven't helped, either. The central bank cut rates twice in October. The latest, a 50-basis-points cut on Oct. 29, put the overnight deposit rate at 4.75%, its lowest in a year. And with plenty of room for more cuts ahead, the downward pressure on the krone is likely to continue.