Chart of GBPNOK

GBP/NOK: shows the price of the pound in terms of the Norwegian crown. This instrument is traded most actively during the European trading session. The pair is characterized by high volatility. The UK economy is quite stable, with well-developed industry and service sector. The pound rate is affected by prices of energy resources, there’s a positive correlation with oil prices. The NOK rate is influenced by prices of raw materials and natural resources exported by Norway (timber, metals, oil, gas). The main spheres that comprise the economy of Norway are trade, industry and tourism. The economy of Norway has a peculiarity: the country has a reserve fund formed from oil revenue. Thus, even when oil prices drop, the Norwegian economy remains stable. GBP/NOK is suited for both short-term and medium-term trading.