Euro to Norwegian Krone exchange rate history 1999 to 2026: energy and the krone
One Euro bought 8.312 NOK in 1999 and 11.038 NOK in 2026. Energy and the krone. The series covers 28 years of annual data.
- 2026 avg
- 11.038
- year to date
- Highest avg
- 11.721
- 2025
- Lowest avg
- 7.477
- 2012
- Traded range
- 7.222 to 12.481
- low 2003, high 2020
Source: Federal Reserve H.10 cross rate (DEXUSEU ÷ DEXNOUS). Latest daily observation 2026-10-30.
Annual averages of daily observations.
EUR/NOK in four numbers
- Change since 1999
- +41.0%
- 27 complete years
- Change over 10 years
- +31.0%
- 2015 to 2025
- Average annual change
- +1.8%
- standard deviation 8.1 points
- Largest drawdown
- 24.5%
- 2008 to 2012
EUR/NOK annual average, 1999 to 2026
Annual average with the full trading range for each year. average high–low range
Source: Federal Reserve H.10 cross rate (DEXUSEU ÷ DEXNOUS). Figures are annual averages of daily observations.
Five largest EUR/NOK moves
The largest absolute year-end changes in the published series, using complete calendar years only.
- 2008 +22.4% 7.931 to 9.709
Year-end rate moved from 7.931 to 9.709, a change of 22.4%.
- 2003 +15.4% 7.274 to 8.397
Year-end rate moved from 7.274 to 8.397, a change of 15.4%.
- 2009 -14.5% 9.709 to 8.298
Year-end rate moved from 9.709 to 8.298, a change of 14.5%.
- 2013 +14.0% 7.334 to 8.358
Year-end rate moved from 7.334 to 8.358, a change of 14.0%.
- 2002 -8.9% 7.986 to 7.274
Year-end rate moved from 7.986 to 7.274, a change of 8.9%.
EUR to NOK exchange rate by year
Every year since 1999: annual average, the year high and low, the year-end rate, and the change on the previous year.
| Year | Average | High | Low | Year end | Change |
|---|---|---|---|---|---|
| 1999 | 8.312 | 8.854 | 8.044 | 8.066 | n/a |
| 2000 | 8.115 | 8.333 | 7.874 | 8.262 | +2.4% |
| 2001 | 8.049 | 8.298 | 7.859 | 7.986 | -3.3% |
| 2002 | 7.514 | 8.017 | 7.257 | 7.274 | -8.9% |
| 2003 | 8.009 | 8.436 | 7.222 | 8.397 | +15.4% |
| 2004 | 8.373 | 8.863 | 8.087 | 8.230 | -2.0% |
| 2005 | 8.011 | 8.433 | 7.729 | 7.987 | -3.0% |
| 2006 | 8.046 | 8.486 | 7.743 | 8.220 | +2.9% |
| 2007 | 8.013 | 8.373 | 7.637 | 7.931 | -3.5% |
| 2008 | 8.232 | 10.046 | 7.805 | 9.709 | +22.4% |
| 2009 | 8.734 | 9.591 | 8.288 | 8.298 | -14.5% |
| 2010 | 8.004 | 8.244 | 7.722 | 7.816 | -5.8% |
| 2011 | 7.796 | 7.946 | 7.494 | 7.743 | -0.9% |
| 2012 | 7.477 | 7.708 | 7.259 | 7.334 | -5.3% |
| 2013 | 7.807 | 8.525 | 7.291 | 8.358 | +14.0% |
| 2014 | 8.354 | 9.329 | 8.097 | 9.053 | +8.3% |
| 2015 | 8.947 | 9.618 | 8.344 | 9.615 | +6.2% |
| 2016 | 9.290 | 9.725 | 8.929 | 9.086 | -5.5% |
| 2017 | 9.333 | 9.957 | 8.816 | 9.836 | +8.3% |
| 2018 | 9.600 | 10.029 | 9.413 | 9.912 | +0.8% |
| 2019 | 9.848 | 10.261 | 9.564 | 9.860 | -0.5% |
| 2020 | 10.739 | 12.481 | 9.834 | 10.488 | +6.4% |
| 2021 | 10.164 | 10.618 | 9.690 | 9.968 | -5.0% |
| 2022 | 10.100 | 10.636 | 9.452 | 10.526 | +5.6% |
| 2023 | 11.426 | 12.006 | 10.608 | 11.197 | +6.4% |
| 2024 | 11.636 | 12.098 | 11.264 | 11.767 | +5.1% |
| 2025 | 11.721 | 12.139 | 11.293 | 11.832 | +0.6% |
| 2026 YTD | 11.038 | 11.800 | 10.282 | 10.282 | -13.1% |
1999–2026 · 27 complete calendar years. Annual figures are averages of available daily observations. 2026 is year to date: the average is based on 209 published trading days through 2026-10-30.
EUR/NOK by decade
Annual averages grouped into decade buckets. The first and last buckets may cover fewer than ten years.
| Period | Average | High | Low | vs previous |
|---|---|---|---|---|
| 1999 | 8.312 | 8.854 | 8.044 | n/a |
| 2000–2009 | 8.110 | 10.046 | 7.222 | -2.4% |
| 2010–2019 | 8.646 | 10.261 | 7.259 | +6.6% |
| 2020–2026 | 10.975 | 12.481 | 9.452 | +26.9% |
Average of the annual averages in each period. The first and last rows cover partial decades.
EUR/NOK since 1999
Euro to Norwegian Krone averaged 8.312 NOK in 1999 and 11.721 NOK in 2025, 41.0% higher across 27 complete years.
The annual average has ranged from 7.477 in 2012 to 11.721 in 2025. On individual trading days the series reached 7.222 and 12.481, a ratio of 1.7 to 1.
The five largest EUR/NOK moves
Ranked by absolute year-end change, the five largest moves were 2008 (+22.4%), 2003 (+15.4%), 2009 (-14.5%), 2013 (+14.0%), 2002 (-8.9%). The biggest was 2008, when the rate moved from 7.931 to 9.709, a change of 22.4%.
Across 27 complete years the pair rose in 14 and fell in 12. The average annual change was +1.8% with a standard deviation of 8.1 percentage points, which is one way to compare its volatility with other pairs.
How wide is the EUR/NOK range?
The highest single observation in the series was 12.481 in 2020, and the lowest was 7.222 in 2003. That is a ratio of 1.7 to 1 between the two extremes.
Annual averages are narrower than single-day levels because they smooth the intra-year swings. Even so, the average has ranged from 7.477 to 11.721, a spread that matters for anyone converting at different points in the cycle.
EUR/NOK by decade
Grouped by decade, the annual average was 8.312 in 1999 and 10.975 in 2020-2026. The widest decade-to-decade change was +26.9% between 2010-2019 and 2020-2026, when the average moved from 8.646 to 10.975.
The final bucket, 2020-2026, is a partial decade and includes the year-to-date 2026 average. The table below shows every bucket with its high and low, so the short-run moves and the long-run level can be read together.
Energy prices and EUR/NOK
EUR/NOK includes a commodity currency. The Norwegian krone is a free-floating currency tied to Norway's offshore oil and gas sector.
Norway's offshore energy exports make the krone sensitive to oil and gas prices, which the euro area imports. The link runs through the terms of trade: a higher export price raises national income and usually supports the exporter's currency, while a fall does the opposite. The pair therefore moves with the energy terms of trade as well as with ECB and Norges Bank policy.
The data shows that sensitivity but not a mechanical rule. The average moved +41.0% over 27 complete years, and the traded range ran from 7.222 in 2003 to 12.481 in 2020.
How to read the EUR/NOK data
This is a derived cross rate. Each day's EUR/NOK is calculated from the two US dollar legs in Federal Reserve H.10 cross rate (DEXUSEU ÷ DEXNOUS), joined on the same calendar date with up to seven days of holiday carry-forward. No figure on this page is estimated or interpolated.
EUR/NOK history: the years that moved the rate
Each event below is dated and tied to one of the currencies in this pair.
- 1999 1999-01-01
The euro is launched
Eleven European Union countries adopted the euro as an accounting currency, replacing the European Currency Unit at a ratio of one to one.
- 2008 2008-09-15
Lehman Brothers files for bankruptcy
The collapse of Lehman Brothers triggered a global financial crisis, a flight into the US dollar and extreme volatility across currency markets.
- 2020 2020-03-15
Pandemic triggers a global dash for cash
The COVID-19 shock caused a worldwide sell-off and a surge in demand for US dollars, followed by large central bank intervention and emergency rate cuts.
- 2022 2022-03-16
Federal Reserve begins a rapid tightening cycle
The Federal Reserve raised rates for the first time since 2018 and continued with unusually large increases, driving a broad dollar rally during 2022.
EUR/NOK history: common questions
What was the EUR/NOK rate in 1999?
One EUR averaged 8.312 NOK in 1999, with a range of 8.044 to 8.854 and a year-end rate of 8.066.
How volatile has EUR/NOK been?
Across 27 complete years the average annual change was +1.8% with a standard deviation of 8.1 percentage points. The largest drawdown was 24.5%, from 2008 to 2012.
What was the biggest single-year move in EUR/NOK?
2008 was the largest, at +22.4%. The year-end rate moved from 7.931 to 9.709.
What is the highest EUR/NOK rate on record?
The highest annual average was 11.721 in 2025. The highest single observation was 12.481 in 2020.
What is the lowest EUR/NOK rate on record?
The lowest annual average was 7.477 in 2012. The lowest single observation was 7.222 in 2003.
What is the EUR/NOK rate in 2026?
The 2026 average is 11.038 NOK per EUR, based on the year to date. The latest complete year, 2025, averaged 11.721.
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