What is the currency in Norway

Tourism and remittance flows also involve the krone: for example, foreign visitors contributed NOK 59.4 bn to Norway’s tourism economy in 2019, while in late 2025 Norwegians sent more money abroad (NOK 1,233.6 bn) than they received (NOK 1,142.8 bn). This article explores the krone’s usage, notes and coins, history, and practical tips for travellers.

The Norwegian currency (krone) basics

The currency of Norway is called the krone (symbol “kr”, ISO code NOK), introduced in 1875 to replace the speciedaler. One krone is subdivided into 100 øre, though øre coins were withdrawn in 2012. Modern Norwegian banknotes come in denominations of 50, 100, 200, 500, and 1000 kroner, and coins are in 1, 5, 10, and 20 kroner.

The central bank (Norges Bank) issues the notes and coins, and periodically introduces new series with national themes (for example, the current 100‑krone note features the Gokstad Viking ship). Below is a summary of the current denominations:

Banknotes & coins in circulation

Norges Bank tracks the total value of notes and coins outstanding. As of January 2026, about NOK 36.8 billion of kroner were in circulation. (By comparison, two months earlier it was NOK 37.6 bn.) This figure rises in summer and falls after the holidays. Among banknotes, the 100‑krone and 500‑krone notes are most commonly used, while the 50‑krone and 1000‑krone notes see less frequent use by the public. Coins are used mainly for small purchases and parking meters, but with many shops preferring exact card payments, large coins (20 kr) are seen only occasionally. The 20‑krone coin was introduced in 1994 to replace a seldom-used 25‑krone coin, and the 1‑øre and 2‑øre coins were abolished decades ago.

Norges Bank keeps track of the total value of outstanding notes and coins. Currently, in January 2026, the outstanding value in kroner is approximately 36.8 billion. (Compare this to the figure two months ago, when the outstanding value was 37.6 bn.) This figure increases in the summer and decreases after the holidays. Of the banknotes, the 100-krone and 500-krone banknotes are the most frequently used, while the 50-krone and 1000-krone banknotes are less frequently used. Coins are used for smaller purchases and parking, but with the trend towards using a credit card for purchases in many shops, the larger coins (20 kr) are rarely seen. The 20-krone coin was introduced in 1994 to replace the seldom-used 25-krone coin. The 1- and 2-øre coins were phased out many years ago.

Cash vs digital payments

Norway is actually a cashless society, with cards such as debit and credit cards widely used. In 2024, every Norwegian makes an average of 572 card transactions per year. This is one of the highest numbers in the world. Over 98% of all retail transactions in shops are now made with cards or mobile devices, with only 2% made with cash. The use of cash is actually levelling off, with its decline slowing. In late 2024, there were 1,129 ATMs in Norway, down from 1,168 in 2023. Tourists from abroad should note, however, that some cafes and small businesses do not accept cash or may require a minimum transaction. It is therefore highly recommended to bring a card.

It is, however, advisable to bring some cash in NOK for rural areas and street vendors. Tipping is not required or practised in Norway, as service charge is included. Traveller's cheques are now obsolete, with credit/debit cards having no special fees if the merchant accepts NOK. Currency exchange offices are available at airports, but with poor exchange rates. The easiest method to get NOK is to use an ATM with your bank card and PIN.

Tourism spending and travel flows

Tourism brings billions of kroner into and out of Norway. Before the pandemic, foreign visitors spent NOK 59.4 bn in Norway in 2019 (out of a total NOK 194.3 bn in domestic tourism spending). Border shopping is also noteworthy – Norwegians spent NOK 14.1 bn of kroner in Swedish and Danish shops in 2015, mainly on food, alcohol and tobacco.

After Covid, tourism rebounded: 2024 saw a record 12.4 million foreign overnight stays, boosting spending again. On the other hand, Norwegians travelling abroad spent about NOK 97 bn on international trips in 2024, with another NOK 117 bn on domestic travel that year. This outbound spending tends to offset some inbound tourism revenues, affecting Norway’s travel trade balance. (The krone’s value can encourage tourism: a weaker NOK makes Norway cheaper for foreigners – a small silver lining noted by tourism economists.)

Exchange rate and volatility

The krone is a freely floating currency and is known for exchange-rate swings. Over the last decade, it has weakened significantly. Similarly, EUR/NOK touched highs above 12 (see ECB data). These moves reflect factors like oil prices, trade flows and global risk sentiment. Notably, the EUR/NOK rate ranged roughly between 10.99 (March 2026) and 12.12 (April 2025) over one recent year (ECB figures). Analysts attribute much of this volatility to Norway’s smaller currency market: the krone is one of the least liquid G10 currencies, making it prone to big moves when global investors seek “safe havens” or when Norges Bank intervenes.

Historical & cultural notes

Norway’s currency has a rich history. The word krone means “crown” (Latin: corona), a name shared with Danish and Swedish currencies. The first Norwegian kroner were minted in 1875 (1 kg of gold equaled 2,480 kroner). During World War II the krone was pegged to the Reichsmark by the occupying forces, and after the war it was briefly pegged to the pound sterling. From 1875 to 1914, Norway shared a currency union with Sweden and Denmark (all currencies at par), but after WWI, each country’s krone floated separately. In Dec 1992, Norway officially adopted a free float (after earlier attempts to stabilise it).

Culturally, Norwegian coins and notes highlight national heritage. For example, the obverse of many coins shows the royal monogram (crown of King Harald V), and the reverse depicts local wildlife or royal crests. The 50‑krone note’s Utvær Lighthouse reflects Norway’s maritime history. Modern Norwegians rarely use the old name “crown”; they simply refer to “kroner” or “cash”. Today, the krone remains a symbol of Norway’s prosperous economy.

Travel tips for using NOK

If you’re visiting Norway, plan to use a card or phone pay for most transactions. Visa and MasterCards are generally accepted (yes, even taxis and supermarkets accept contactless!), and merchants will accept payment in local currency. Bring a few coins, especially 1 and 5kr, to pay parking meters or shop in the countryside where they might not accept plastic. ATMs (minibanks) will give out kroner. Don’t use DCC (dynamic currency conversion) – let the terminal decide the exchange rate. Norway doesn’t offer a VAT refund for EU citizens in many places, but you can claim back your receipt when leaving the country via the airports.

Note that Norway isn’t in the EU or the Eurozone, so euros or other currencies aren’t accepted (except in some border towns in Sweden/Denmark). You can exchange money at airports or in banks, but the exchange rate isn’t great.

A better approach is to draw NOK from an ATM (but check with your bank about foreign withdrawal fees). CurrencyTransfer’s platform can also assist with international transfers and competitive rates if you need to send funds to/from Norway.

Using the NOK

In summary, Norway’s currency is the Norwegian krone (NOK), with current denominations listed above and almost fully digital usage. It is managed by Norges Bank and subject to market-driven exchange rates. Unique facts include the krone’s volatility (weakest European currency in 2025), its near-cashless economy (98% card payments), and its role in tourism spending (tens of billions NOK in travel flows). For any money transfers or currency exchange involving NOK, CurrencyTransfer’s Norway page and exchange services provide tools and transparent rates.

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