USD/NOK expresses how many Norwegian krone one US dollar buys. It is the key reference rate for trade and investment between the United States and Norway, and one of the more distinctive G10 currency pairs because of its close relationship with oil prices.
The krone floats freely under Norges Bank, Norway's central bank. Petroleum is central to Norway's economy and export earnings — the country is a major producer and exporter of crude oil and natural gas through the North Sea — so USD/NOK is strongly correlated with the price of Brent crude. When oil prices rise, the krone has historically tended to strengthen, and the reverse holds when oil prices fall.
Beyond oil, the interest-rate differential between Norges Bank and the US Federal Reserve and broader global risk sentiment also influence the pair, but the oil linkage remains the defining feature that separates the krone from other Scandinavian currencies.
This page shows an indicative mid-market rate that can update intraday through the trading week. It is not a live intraday quote for settlement or regulated trading — every API response carries source and market_session so you can see whether a given number reflects a live tick or a daily reference fix.
Frequently asked questions
What does USD/NOK measure?
USD/NOK states how many Norwegian krone you receive for one US dollar. A rate of 10.80 means one dollar buys 10.80 krone.
Why is USD/NOK linked to oil prices?
Norway is a major oil and gas exporter, and petroleum revenue is central to its economy. Brent crude prices are one of the strongest single drivers of the krone's strength or weakness against the dollar.
Is the krone pegged to anything?
No. The krone floats freely, with Norges Bank setting independent monetary policy focused on domestic inflation, not a fixed exchange-rate target.
Is this rate live or a daily reference?
The API response for this pair carries a source and market_session field on every call, so you always know whether the quote reflects a live intraday tick or a daily reference fix — the rate can update intraday through the trading week, but no fixed refresh interval is guaranteed.
What else moves USD/NOK besides oil?
The interest-rate gap between Norges Bank and the US Federal Reserve, and broader global risk sentiment, both play a role — but oil remains the defining driver that sets the krone apart from other G10 currencies.
Who typically tracks USD/NOK?
Energy traders, businesses in the oil and shipping sectors, and investors with exposure to Norwegian assets watch USD/NOK closely given its sensitivity to crude prices.
How do I get this rate via the API?
GET /v1/latest/USD?symbols=NOK returns the indicative rate, source, market_session, and timestamp. The free tier covers it, no credit card required. All rates are indicative, not for settlement.