Frequently asked questions about exchange rates
Where do I find historical exchange rates and rates for currencies that no longer exist?
On our exchange rate pageyou will find data going back to 1960. For some currencieswe have data going back to 1819but these are in a spreadsheet under Historical exchange rates. There you will find data for currencies that no longer existincluding those that have been replaced by the euro.
Where can I find exchange rates not listed by Norges Bank?
Norges Bank lists some 40 exchange rates. For exchange rates for currencies other than those listed by Norges Banksee for example Oanda.com
When are the exchange rates published?
Publication time of daily exchange rates is approximately 16:00 CET on business days.
Exchange rates are not published on Christmas Eve.
What sort of exchange rates does Norges Bank quote?
The exchange rates on Norges Bank's website are middle ratesi.e. the mid-point between buying and selling rates in the interbank market at a given time. Close to the time when the exchange rates are quotedthe European Central Bank (ECB) obtains a relevant exchange ratefor examplethe number of Norwegian kroner for a euroin the interbank market from banks and electronic trading systemsand sets the most accurate market rate possible at this point in time.
In the case of currencies not covered by this reportingNorges Bank obtains market rates from electronic information systems and/or banks. Because an exchange rate always expresses the relationship between two currenciesreporting from the central banks of other countries is used to calculate exchange rates in Norwegian accounting.
What is an exchange rate?
An exchange rate is the price of a country's currency measured against that of another countryfor example NOK per euro. The international foreign exchange market determines the exchange rate by creating balance between total demand for and supply of foreign currency.
Can I trade on the basis of Norges Bank's exchange rates?
The exchange rates are only intended to serve as an indicationand are not binding on Norges Bank or other banks. Norges Bank's exchange rates are often used as a reference and for historical comparisons. Norwegian banks may have different routines for updating exchange rates used in transactions with the public. Because exchange rates are constantly changingbanks' rates may differ from Norges Bank's rates. Moreoverbanks' rates have margins for buying and sellingwhereas Norges Bank's rates are pure middle rates.
What is meant by fixed and floating exchange rates?
With a fixed exchange rate regimethe central bank is actively involved in the purchase and sale of currency in order to maintain the official exchange rate. With a floating exchange rateas is the case in Norwaythe exchange rate will reflect supply and demand in the international foreign exchange market. The krone exchange rate will therefore reflect the international value of the Norwegian krone.