Norwegian krone falls dramatically following the surprising inflation figures

Photo : Ben Harding;.

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Norwegian kroner (NOK) falls to its lowest level in 2018 after Statistics Norway released surprisingly weak inflation figures on Monday morning.

Euro-to-NOK exchange rate has risen to 9.85 kroner from 9.70 kroner.

The sudden drop in NOK value was after the inflation rates were announced. The core inflation rose by only 1.1 per cent from January 2017 to January 2018. Norges Bank had expected inflation of 1.4 per cent.

The weak price growth keeps interest rates low, which in turn contributes to a stronger krone.

Although economists think this drop is temporary, low inflation trend in the long run may lead to even wekaer NOK.

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