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Business & Finance

Norway's central bank sees moderately stronger crown

Published March 16, 2018 Updated March 16, 2018 02:07pm
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By Shoaib Ur RehmanReuters
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KRISTIANSUND: The Norwegian central bank expects a moderate strengthening of Norway's crown currency in the time ahead, deputy Governor Jon Nicolaisen told a business conference on Friday.

The currency has yet to recover from a plunge against the euro that followed from a fall in the price of oil, Norway's main export, between 2014 and 2016.

"When the economy is improving and interest rates are set to rise, the crown will strengthen. Buy we don't predict a big strengthening. We believe it will be moderate," Nicolaisen said.

 

Copyright Reuters, 2018

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