Since Norway is not one of the countries belonging to the European Union, it retains its national currency, which is called the Norwegian krone and is equal to 100 era. Despite its independence from the EU countries, Norway can boast of a fairly stable level of development of its monetary system, and the Norwegian crowns are widely known in the world. Being the country's internal currency, the kroons are easily converted into the denomination of any other currency.
The origin of the crown: gold and silver of ancient Europe
The name "crown" is quite common to denote European currencies, because the word itself comes from the same root "crown", because for a long time the production of money was the exclusive privilege of royal craftsmen.
The Norwegian Mint began its work near the silver deposits, therefore, initially, Norwegian money was issued exclusively in silver form. Later, after the depletion of the mine, the craftsmen began to use gold, which is reflected in the name of the lower denomination: the prototype of the era was the ancient Roman coin aureus, which means “gold”.
During the occupation of the country during the Second World War, Norway's gold reserves were exported to Great Britain and stored in London. Since 1962, the cash reserves have returned to their homeland, continuing to work for the benefit of the Norwegians. In 2000, the company’s opulent name for the moneymaking company, Royal Norwegian Mint, was shortened to Norwegian Mint, retaining the emblem of two crossed hammers.
Currency conversion in Norway
Currency exchange in Norway takes place at bank and post offices, as well as in most hotels and special exchange offices. Since in the economic life of the country, a floating exchange rate regime is used, which depends on the level of inflation, exchange in banks remains the most profitable; They work from about 8 am to 3 pm on weekdays. Some banks, which are located in tourist areas, work much longer, not taking into account a short break, their working day ends at about 11 pm on weekdays and at 5 pm on Saturdays.
Since currency exchange in this country is not profitable due to high interest rates (from 2% to 5% with a fixed commission of $ 5), the most common non-cash payment using plastic cards of any banks without restrictions.
