NOK (Norwegian Krone)

DEFINITION of 'NOK (Norwegian Krone)'

The currency abbreviation or currency symbol for the Norwegian krone (NOK), the currency of Norway. The Norwegian krone is made up of 100 øre and is often represented by the symbol kr. The name "krone" means "crown" in English.

BREAKING DOWN 'NOK (Norwegian Krone)'

The krone replaced the Norwegian speciedaler at a rate of 4 kroner to 1 speciedaler in 1875 when Norway joined the Scandinavian Monetary Union. When then the union was dissolved in 1914, Norway continued to use the krone as a seperate currency - the Norwegian krone.