CHF/NOK introduction and background |
CHF/NOK represents the exchange rate between the Swiss franc and the Norwegian krone. This currency pair reflects the value of the Swiss franc expressed in Norwegian krone.
The CHF/NOK currency pair combines two European currencies from countries outside the Eurozone and the EU. The Swiss franc (CHF) is the official currency of Switzerland and Liechtenstein, with safe-haven status. The Norwegian krone (NOK) is the official currency of Norway, an oil-rich nation with a strong economy tied to natural resources.
The Swiss economy relies on its banking sector and specialised industry including pharmaceuticals. The country is known for its political neutrality, stable economy, and very high living standards. The Swiss National Bank (SNB) manages the franc and has historically intervened to prevent excessive appreciation. However, the unexpected 2015 removal of their long-standing peg to the Euro caused shockwaves in global currency markets. Norway is also a highly developed country and a major oil and gas exporter. Its currency is often influenced by global energy prices and the policies of its central bank.
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