Convert EUR to NOK
The exchange rate of EUR/NOK currency pair experiences significant fluctuations on the release of key economic data from the Eurozone and Norway, including GDP, inflation, unemployment rate, manufacturing PMI, trade balance, retail sales and consumer confidence.
Both the EUR and the NOK see changes in the value upon the release of monetary policy and interest rate decisions by the European Central Bank (ECB) and the Norges Bank respectively. For instance, if the ECB cuts interest rates or adopts a more dovish outlook towards its monetary policy, the EUR weakens, causing the EUR/NOK forex pair to trade bearish, and vice versa.
The EUR/NOK traded at a high of 13.1828 on 19 March 2020. This was the strongest value this currency pair touched through 2020.