Currency Norwegian krone on Forex.

The Norwegian currency, despite its relative prevalence, is also traded on the stock exchange and is an excellent option for making a profit. It is especially popular among players who prefer quiet trading. Since the Krona has relatively low volatility , but a relatively stable trend.

The Norwegian currency is freely convertible, its exchange rate is not subject to artificial regulation by the state and is completely market-based.

The main factors that influence the Norwegian krone exchange rate are the level of inflation in the country and world oil prices.

The second parameter is especially interesting for a trader; Norway is one of the largest oil producers, so the price of black gold has a direct correlation with the Norwegian krone.

The currency is sensitive to changes in gas and oil prices, since the amount of foreign exchange earnings depends on the sale of these two resources. This relationship is perfectly monitored against the backdrop of the current decline in oil prices; this event led to a drop in the Norwegian krone exchange rate against the US dollar by more than 30%. A downward trend has been observed since June 2014.

The main currency pairs that are currently used in Forex to generate income are EURNOK, USDNOK, NOKJPY.

make money on these currency pairs using medium-term transactions or on sharp exchange rate fluctuations during significant changes in oil prices.

In general, the currency is quite interesting; many recommend it for novice traders, since the asset is well predicted and can bring profit even to a novice trader.