Convert NOK to MXN - Norwegian krone to Mexican peso Exchange Rate | FX LeadersFX Leaders
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WHAT IMPACTS THE NOK/MXN EXCHANGE RATE
The NOK/MXN currency pair represents trading of the Norwegian krone against the Mexican peso. The NOK is the official currency of Norway and its dependent territories while the MXN is the official currency used in Mexico. This is an interesting currency pair as both the NOK and MXN are considered as commodity currencies which share a close correlation with crude oil. This is because both Norway and Mexico are leading oil exporters, as a result of which changes in crude oil prices affect the value of both currencies.The Mexican peso is an emerging market currency that sees ample volatility based on market sentiment, geopolitical developments and international trade. In addition, the US is Mexico's leading trade partner, so any economic and political developments in the US that have a direct impact on this trade relationship can also drive price action in the NOK/MXN currency pair.The exchange rate of the NOK/MXN currency pair is also impacted by developments taking place across the Eurozone and Latin American regions. Trade also has an important role in driving movement in the Norwegian krone as Norway enjoys a strong trade relationship with the UK and the Eurozone. Any developments in either region that have a direct impact on this trade relationship, e.g. Brexit, can also cause volatility in this currency pair.
NOK to MXN CONVERSION RATES
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NOK to MXN CHARTS
NOK/MXN Live Chart
NOK/MXN Historical Chart
NOK to MXN EXCHANGE RATE - FAQ
What currencies are the NOK correlated with?

The Norwegian krone enjoys a strong correlation with the Danish krone and the Swedish krona, owing to geographical and economic proximity among these nations. In addition, the NOK is also correlated with GBP, CAD, EUR and other commodity currencies that are driven by crude oil.

What economic events impact the exchange rate of NOK/MXN?

The NOK/MXN currency pair sees price action on the release of important economic data from Norway and Mexico, including GDP, trade balance, inflation, unemployment rate, PMI readings from manufacturing and services sectors, industrial production, retail sales and consumer confidence.

How do central bank decisions impact NOK/MXN?

Any changes to the monetary policy and interest rates by the Norges Bank and the Banco de Mexico can cause fluctuations in the value of the NOK and MXN respectively, driving price action in the NOK/MXN currency pair. For instance, if the Banco de Mexico hikes interest rates, it strengthens the Mexican peso and turns NOK/MXN bearish, and vice versa.