Norges Bank Main navigation ALL TOPICS NEWS & EVENTS SEARCH SEARCH Norsk The central bank of Norway's aim is price stability and financial stability, and to generate added value through investment management. NEWS AND PUBLICATIONS PUBLICATIONS Non-standard errors PUBLICATION, WORKING PAPER 13/2021 23 November 2021 Expectations Survey 2021 Q4 PUBLICATION, NORGES BANK EXPECTATIONS SURVEY 4/2021 18 November 2021 CALENDAR NOTES AND COINS How to exchange old banknotes Follow our guide for how to exchange your old notes and coins. Premises for exchanging expired banknotes are reopened. Please make sure that you fill out the exchange form prior to your arrival. HOW TO EXCHANGE OLD BANKNOTES New banknote series complete The new banknote series was introduced in 2017-2019, and is now complete. NEW BANKNOTE SERIES COMPLETE EXCHANGE RATES CURRENCY (CODE) 22 NOV 23 NOV Danish krone (DKK) 135.43 135.43 Euro (EUR) 10.0715 10.071 Import-weighted krone exchange rate (I44) 109.18 108.97 Pound sterling (GBP) 12.0009 11.9629 Swedish krona (SEK) 99.44 99.39 Trade-weighted krone exchange rate (TWI) 119.82 119.63 US dollar (USD) 8.9302 8.9448 ALL CURRENCIES Norges Bank quotes some 40 exchange rates. Publication time of daily exchange rates is approximately 16:00 CET. MONETARY POLICY Monetary policy shall maintain monetary stability by keeping inflation low and stable Monetary policy objectives and instruments The Storting and Government define the objectives of monetary policy by law and regulation. Norges Bank's role is to contribute to achieving the objectives. The key instrument of monetary policy is the policy rate. MANDATE AND RESPONSIBILITIES IN MONETARY POLICY KNOWLEDGE BANK Why do we want low and stable inflation? Both rapidly rising and falling prices can pose challenges to the economy. The best course of action is therefore to aim for something in between. WHY DO WE WANT LOW AND STABLE INFLATION? KNOWLEDGE BANK How does the policy rate influence you? The level of the policy rate influences, directly and indirectly, many of the everyday economic decisions you make. HOW DOES THE POLICY RATE INFLUENCE YOU? POLICY RATE 0.25% Effective from 05.11.2021 Next policy rate decision will be announced on 16 December 2021 RATE DECISION NOVEMBER FINANCIAL STABILITY Norges Bank shall contribute to a robust and efficient financial system Financial stability - a primary objective The role of issuer of means of payment and ultimate settlement bank for interbank payments in Norway gives Norges Bank a particular responsibility for fostering efficient and secure payment systems. FINANCIAL STABILITY - A PRIMARY OBJECTIVE KNOWLEDGE BANK How are payments made? There are primarily two types of money in the payment system, notes and coins issued by Norges Bank (cash) and deposits in banks (deposit money). HOW ARE PAYMENTS MADE? KNOWLEDGE BANK Why are banks so important? A well-functioning financial system is fundamental to a modern economy, and banks perform important functions for society. They must therefore be secure. WHY ARE BANKS SO IMPORTANT? Reports on financial stability Norges Bank publishes four reports that provide an overview of the financial system, development trends, vulnerabilities and oversight activities. REPORTS ON FINANCIAL STABILITY INVESTMENT MANAGEMENT Norges Bank manages the portfolios of the Government Pension Fund Global and the Bank’s own foreign exchange reserves THE FUND'S MARKET VALUE Billion NOK Norges Bank Investment Management (NBIM) manages the Norwegian Government Pension Fund Global, also known as the Oil Fund. THE FUND'S WEBSITE Foreign exchange reserves The foreign exchange reserves are the Bank's contingency funds in international currencies and are to be available for use in foreign exchange market transactions as part of the conduct of monetary policy or with a view to promoting financial stability and to meet Norges Bank's international commitments. FOREIGN EXCHANGE RESERVES ABOUT THE BANK Climate and the economy Read about Norges Bank's work on climate risk CLIMATE AND THE ECONOMY Bankplassen blog The Bankplassen blog is a venue for knowledge sharing. The main contributors are persons employed by or associated with Norges Bank’s central banking operations. BANKPLASSEN BLOG Careers See vacant positiions and find out more about the opportunities we have to offer. CAREERS TOPICS Monetary policy Financial stability Notes and coins Liquidity and markets Statistics Government debt Norges Bank's settlement system About the Bank NEWS News items Publications Calendar Blog Video NORGES BANK Contact Knowledge bank Subscribe FAQ Follow us: Facebook Twitter YouTube LinkedIn Flickr RSS Privacy and cookies Disclaimer Fraud and scams