The currency of Norway is the Norwegian krone (ISO code NOK), written with the symbol "kr" and issued by the country's central bank, Norges Bank. As of 2026, roughly 10.8 kroner equal one US dollar. Despite being one of the richest nations on earth per person, Norway has never adopted the euro and keeps the krone as a symbol of its economic independence.
What the Krone Is and How It Works
The word krone simply means "crown," a name shared by the currencies of several Nordic countries including Denmark and Sweden. To avoid confusion on currency markets, the Norwegian krone carries the ISO code NOK, while Sweden uses SEK and Denmark DKK. One krone is theoretically divided into 100 øre, though the øre has long since vanished from physical money; prices are rounded to the nearest whole krone in cash transactions.
Norges Bank, founded in 1816, sets monetary policy and manages the krone's value through its key policy interest rate. Because Norway is not part of the European Union and is not in the eurozone, the krone floats freely against other currencies, and its value moves notably with global energy markets. Norway is one of Europe's largest exporters of oil and natural gas, so when energy prices rise or fall, the krone often follows.
A Currency Backed by Oil Wealth
Few currencies are so closely tied to a single national resource. After major oil and gas discoveries in the North Sea during the late 1960s, Norway transformed into an energy powerhouse. Rather than spend the windfall immediately, the country funnels petroleum revenue into the Government Pension Fund Global, popularly known as the "Oil Fund." It is the world's largest sovereign wealth fund, valued well above 1.5 trillion US dollars and holding stakes in thousands of companies across the globe.
This enormous savings buffer gives Norway extraordinary financial stability for a nation of only about 5.5 million people. It also helps insulate the broader economy from the boom-and-bust swings of commodity prices, even though the krone itself still reacts to oil markets day to day. The combination of disciplined saving and resource wealth is a major reason Norway can comfortably maintain its own currency instead of joining the euro.
Banknotes and Coins
Norway's current banknote series, rolled out from 2017 onward, is celebrated internationally for its striking design. The front of each note shows a realistic maritime image, while the reverse displays an abstract, pixel-like pattern representing the sea in different forms. The theme honors Norway's deep historical and cultural relationship with the ocean. The notes in circulation are:
- 1,000 kr — purple-blue tones, themed around the open sea and waves
- 500 kr — green, with a wind and ship motif
- 200 kr — blue, featuring fish and sea life
- 100 kr — red, depicting a Viking ship
- 50 kr — green, showing a coastal lighthouse
Coins circulate in denominations of 1, 5, 10 and 20 kroner. The smaller-value øre coins were phased out entirely, with the last of them withdrawn years ago, leaving the 1-krone coin as the smallest unit of cash. The coins carry the royal monogram and national symbols, reflecting Norway's constitutional monarchy.
Using Money in Norway
Norway is one of the most cashless societies on the planet, so travelers rarely need physical kroner. Credit and debit cards are accepted almost everywhere, from major hotels to remote mountain cabins, and contactless payment is standard. Many locals rely on Vipps, a hugely popular mobile payment app used for everything from splitting a restaurant bill to paying a street vendor.
Because of this, some small shops, museums and even public transport may not accept cash at all. ATMs (called minibank) exist but are far less common than they once were. Visitors should also be prepared for high prices: Norway is consistently among the most expensive countries in the world for food, drink and accommodation. Tipping is not obligatory, since service is included in listed prices, though rounding up the bill is a friendly gesture. For more background on the country itself, see our norway country guide.
Frequently Asked Questions
Does Norway use the euro?
No. Norway is not a member of the European Union and has never adopted the euro. It keeps the Norwegian krone, and public opinion has consistently favored maintaining the country's own currency and monetary independence.
What is the symbol and code for Norwegian money?
The Norwegian krone uses the symbol "kr" in everyday writing and the three-letter ISO code NOK in banking and on currency exchanges. The plural of krone is kroner.
Should I bring cash to Norway?
Generally no. Norway is extremely card- and app-friendly, and many businesses prefer or only accept electronic payment. A debit or credit card with contactless capability will cover almost every situation, though carrying a small amount of cash as backup does no harm.
Why is the krone linked to oil prices?
Norway is one of Europe's leading producers of oil and natural gas, so energy exports are a large share of its economy. When global oil and gas prices move, demand for the krone and the outlook for Norwegian revenue shift with them, causing the currency's exchange rate to rise or fall accordingly.