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Maker to Norwegian Krone Converter and calculator

Convert 1Maker (MKR) to Norwegian Krone (NOK) equals kr 32,615.12 | Bitget

NOK information

About the Norwegian Krone (NOK)

What Is the Norwegian Krone (NOK)?

The Norwegian Krone (NOK), symbolized as "kr" and often abbreviated as NKr, is the official currency of Norway, including its overseas territories and dependencies of Svalbard, Bouvet Island, Queen Maud Land, and Peter I Island. The term "Krone" translates to "crown" in English. It is subdivided into 100 øre, although the øre ceased to exist in physical form in 2012 and now exists only electronically.

The Norwegian Krone (NOK) is issued by Norges Bank, which is the central bank of Norway. Norges Bank is responsible for the production and distribution of the country's currency and also plays a key role in determining and implementing monetary policy in Norway. This includes managing the country's foreign exchange reserves and ensuring financial stability. The bank's decisions and policies directly influence the value and stability of the Norwegian Krone.

What Is the History of NOK?

The Krone was introduced in 1875, replacing the Norwegian speciedaler at a rate of 4 Krone = 1 speciedaler, as Norway joined the Scandinavian Monetary Union. This union, which also included Denmark and Sweden, was based on a gold standard, with 2,480 Krone equaling 1 kilogram of pure gold. The union dissolved in 1914, but the Krone remained Norway's currency. During World War II, the Krone was pegged to the Reichsmark, and post-war, it was pegged to the British pound and later the U.S. dollar. In 1992, Norway shifted to a floating exchange rate due to heavy speculation against the Krone.

Notes and Coins of NOK

Norwegians use both coins and banknotes for transactions. Coins come in denominations of 1, 5, 10, and 20 kroner, while banknotes are available in 50, 100, 200, 500, and 1,000 kroner. The banknotes feature images of prominent Norwegians and are known for their unique and modern designs, celebrating Norway’s maritime history and culture.

Exchange Rate and Economic Influence

The value of the Krone is significantly influenced by changes in oil prices and interest rates, reflecting Norway's status as a major oil exporter. The Krone’s exchange rate against other currencies, like the USD and Euro, varies considerably, often correlating with global oil market trends. For instance, during the oil crisis of 2015, the Krone fell 20% against the dollar.

Norway is moving towards becoming a cashless society, with a high level of digitalization in financial transactions. Payment apps like Vipps are popular, and the use of cash is declining, although it is still accepted, especially among older generations and in smaller retail shops.

Why Doesn’t Norway Use the Euro?

Norway does not use the euro primarily because it is not a member of the European Union (EU). As a member of the European Economic Area (EEA), Norway enjoys access to the EU's single market without the obligations of EU membership, including adopting the euro. This arrangement allows Norway to maintain economic and monetary sovereignty, enabling it to tailor its monetary policy to its unique economic conditions, especially important given its significant oil and gas revenues. Additionally, there is considerable public and political support in Norway for maintaining the Norwegian Krone (NOK), as evidenced by the results of referendums in 1972 and 1994, where Norwegian voters opted against joining the EU. The stability and strength of Norway's economy and its currency further reinforce the decision to retain the Krone instead of adopting the euro.

Is NOK a Stable Currency?

The Norwegian Krone is generally considered a stable currency, largely due to Norway's robust economy, which is underpinned by significant revenues from its oil and gas industries. As a petroleum-based currency, the NOK's value can be influenced by fluctuations in oil prices, but Norway's prudent fiscal management, including the establishment of the Government Pension Fund Global (often referred to as the Oil Fund), helps mitigate these effects. This fund invests surplus revenues from the petroleum sector in international financial markets, providing a buffer against economic shocks. Additionally, Norway's low debt levels, strong sovereign credit ratings, and effective monetary policies by Norges Bank (the country's central bank) contribute to the Krone’s overall stability.

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Bitget crypto-to-fiat exchange data shows that the most popular Maker currency pair is the MKR to NOK, with for Maker's currency code being MKR. Use our cryptocurrency calculator now to see how much your cryptocurrency can be exchanged for NOK.

MKR to NOK conversion rate trend

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In the past 1D, Maker has changed +17.74% to NOK. Based on the trend and price charts, Maker(MKR) has changed +17.74% to NOK while Norwegian Krone(NOK) has changed % to MKR in the last 24 hours.

Conversion rate comparison of various exchanges

ExchangePriceMaker / Taker FeeTradable
Bitgethot-iconBest
kr32,534.13
0.0001% / 0.0004%vip-iconVIP
Binance
kr32,493.79
0.1000% / 0.1000%
Yes
OKX
kr32,519.96
0.080% / 0.100%
Yes
Huobi
kr32,481.48
0.1000% / 0.1000%
Yes
Gate.io
kr32,500.66
0.1000% / 0.1000%
Yes
Bybit
kr32,515.59
0.1000% / 0.1000%
Yes
KuCoin
kr32,478.1
0.1000% / 0.1000%
Yes
Bitfinex
kr32,446.92
0.1000% / 0.1000%
Yes
Last updated 2024/04/14 20:00:33(UTC+0)

What factors influence the conversion rate of Maker to Norwegian Krone?

Maker to Norwegian Krone is falling this week.
Maker's current market price is kr 32,615.12 per MKR, with a total market cap of kr 30,159,513,884.13 NOK based on a circulating supply of 924,709.7 MKR. The trading volume of Maker has changed by +40.44% (kr 591,555,272.64 NOK) in the last 24 hours. Last trading day, MKR's trading volume was kr 1,462,862,522.65.
Market cap
$2.77B
24h volume
$188.47M
Circulating supply
924.71K MKR

Conversion tables

The exchange rate of Maker is increasing.
1 MKR is currently valued at kr 32,615.12 NOK , which means buying 5 MKR will cost kr 163,075.58 NOK . Similarly, kr1 NOK can be traded for 0.{4}3066 MKR, and kr50 NOK can be converted to 0.001533 MKR, excluding any platform or gas fees.
The exchange rate of 1 MKR to Norwegian Krone has changed by -17.01% in the last 7 days. In the last 24 hours, the rate has fluctuated by +17.74%, reaching a high of 32,741.35 NOK and a low of 27,342.77 NOK . One month ago, the value of 1 MKR was kr 29,490.03 NOK , which represents a +10.59% change from its current value. Over the last year, Maker has changed by
+kr
2,419.43NOK
, resulting in a change of +288.10% in its value.

MKR to NOK

Amount
20:28 today
0.5 MKR
kr16,307.56
1 MKR
kr32,615.12
5 MKR
kr163,075.58
10 MKR
kr326,151.16
50 MKR
kr1,630,755.79
100 MKR
kr3,261,511.57
500 MKR
kr16,307,557.86
1000 MKR
kr32,615,115.73

NOK to MKR

Amount20:28 today
0.5NOK0.{4}1533  MKR
1NOK0.{4}3066  MKR
5NOK0.0001533  MKR
10NOK0.0003066  MKR
50NOK0.001533  MKR
100NOK0.003066  MKR
500NOK0.01533  MKR
1000NOK0.03066  MKR
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Today vs. 24 hours ago

Amount20:28 today24 hours ago24h change
0.5 MKR$1,496.07$1,270.53
+17.74%
1 MKR$2,992.13$2,541.06
+17.74%
5 MKR$14,960.65$12,705.28
+17.74%
10 MKR$29,921.3$25,410.56
+17.74%
50 MKR$149,606.51$127,052.82
+17.74%
100 MKR$299,213.01$254,105.64
+17.74%
500 MKR$1,496,065.05$1,270,528.2
+17.74%
1000 MKR$2,992,130.1$2,541,056.4
+17.74%

Today vs. 1 month ago

Amount20:28 today1 month ago1M change
0.5 MKR$1,496.07$1,352.72
+10.59%
1 MKR$2,992.13$2,705.43
+10.59%
5 MKR$14,960.65$13,527.16
+10.59%
10 MKR$29,921.3$27,054.33
+10.59%
50 MKR$149,606.51$135,271.63
+10.59%
100 MKR$299,213.01$270,543.26
+10.59%
500 MKR$1,496,065.05$1,352,716.3
+10.59%
1000 MKR$2,992,130.1$2,705,432.6
+10.59%

Today vs. 1 year ago

Amount20:28 today1 year ago1Y change
0.5 MKR$1,496.07$385.09
+288.10%
1 MKR$2,992.13$770.17
+288.10%
5 MKR$14,960.65$3,850.85
+288.10%
10 MKR$29,921.3$7,701.7
+288.10%
50 MKR$149,606.51$38,508.52
+288.10%
100 MKR$299,213.01$77,017.04
+288.10%
500 MKR$1,496,065.05$385,085.2
+288.10%
1000 MKR$2,992,130.1$770,170.4
+288.10%

FAQ

This content is being provided to you for informational purposes only, does not constitute an offer, or solicitation of an offer nor a recommendation by Bitget to buy, sell, or hold any security, financial product, or instrument referenced in the content, and does not constitute investment advice, financial advice, trading advice, or any other sort of advice. Data presented may reflect asset prices traded on the Bitget exchange as well as other cryptocurrency exchanges and market data platforms. Bitget may charge fees for the processing of cryptocurrency transactions which may not be reflected in the conversion prices displayed. Bitget is not liable for any errors or delays in content or for any actions taken in reliance on any content.