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The Nok culture was one of the earliest known societies of Western Africa. It existed in modern-day Nigeria from around 500 B.C.E. to 200 C.E. Historians and archaeologists refer to this culture as the Nok culture because artifacts were first discovered near the modern Nigerian town of Nok.

In fact, the only reluctance to the migration to digital banking comes from some of the country’s older generation. My friend declared to me last week, “well, https://forex-review.net/ it finally happened – I persuaded my Dad to get online banking”. For example, if you pay 9,50 in a grocery store with a 10 krone coin, you get no change.

1. The Norwegian Krone is generally considered a safe currency, in that its value is not likely to be affected by failures in other markets.
2. Here is the history and other things to know about the currency of Norway.
3. There is also a low correlation with the British pound, the euro, the Canadian dollar, and other currencies that are affected by the price of oil.
4. As archaeology makes its slow and methodical additions to our knowledge and extends the time periods of key West African cultures, then perhaps the at-present tentative links between them will be more firmly established.

These artifacts are mostly terracotta sculptures of human heads, human figures, and animals. One of the identifying characteristics of Nok sculptures is the triangular or oval-shaped eyes on human faces. There is evidence of iron working in the region dating back to at least the fourth century B.C.E., and possibly even earlier. In the village of Taruga, Nigeria, archaeologists have found no fewer than 13 iron-smelting furnaces. Archaeologists have also discovered other iron artifacts from the Nok, like farming tools and weapons.

What Is the Norwegian Krone (NOK)?

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So if your total adds up to 99.80 NOK, it will be rounded up to 100 NOK when you pay with cash. However, if you pay digitally by a banking card, only 99.80 NOK is charged from your account. You can split a Norwegian krone into a smaller unit, similar to how you can split a dollar or euro into cents. This smaller unit of the krone is called an øre (can be translated to ear).

Norwegian Krone (NOK): History, Example, FAQs

The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities. For only $5 per month you can become a member and support our mission to engage people with cultural heritage and to improve history education worldwide. In other states, the program is sponsored by Community Federal Savings Bank, to which we’re a service provider. Norway also prefers to keep its currency tied to its own economic (that can be controlled by oil supply) instead of having to rely on the well-being of the entire EU to keep a healthy economy. The Norwegian currency is also used in Hirtshals and Frederikshavn, which are popular ferry ports in Denmark.

Don’t confuse the Norwegian Krone with the similarly-named coinberry review Danish Krone (DKK) or Swedish Krona (SEK).

These are the average exchange rates of these two currencies for the last 30 and 90 days. Figures were carved to give features and linear decoration, seemingly when the clay had partially hardened but before firing. Many full figures are seated or standing on a base which represents an upside-down pot. A common posture is a seated figure with one arm resting on one raised knee (as in Auguste Rodin’s celebrated ‘The Thinker’ sculpture). Male figures typically have a short square beard and curious moustaches which only grow at the corners of the mouth. There are also a number of figures which are neither human nor purely animals but an imaginative mix of the two.

Norwegian krone

Coins and banknotes of the Norwegian krone are distributed by the Central Bank of Norway. Not much is known of the Nok culture other than its iron works and terracotta sculptures, like this bas-relief. There is little pottery available for analysis but from the pottery that was found there is a decrease in the strictness of the ornamental band.

In contrast to the larger sculptures, smaller figurines are solid. The U.S. dollar is the currency most used in international transactions. Several countries use the U.S. dollar as their official currency, and many others allow it to be used in a de facto capacity. Norway uses a system called BankAxept that allows any banking card to be used at any payment terminal, so you never really have any trouble with using Norwegian bank cards to pay for anything.

Mot people are pretty happy with the new and modern design on the bank notes, even though cash is rarely used in Norway these days. For example, long after the Scandinavian Monetary Union was dissolved, the Krone remains highly correlated with the Danish krone and the Swedish krona. There is also a low correlation with the British pound, the euro, the Canadian dollar, and other currencies that are affected by the price of oil. Some stores in Oslo, Norway’s capital city, accept the US dollar or Euro as a currency when paying for goods and services.

These were mostly fragmentary sculptures, buried under some 8 metres (26 ft) of sand and earth, which were tossed up during local mining operations for tin in the first half of the 20th century CE. The Nok culture prospered thanks to iron-smelting technology which permitted the manufacture of iron tools. It may even have been an indigenous invention but, unfortunately, there is very little evidence to support any of the three theories above the other two. Wherever the ideas came from, it permitted Nok to jump straight from the Stone Age to the Iron Age and skip the Bronze Age stage that is typical of developments elsewhere. Many people are surprised to learn that most Norwegians rarely use cash at all anymore, and pretty much over 99 % of all transactions are digital. All stores have banking terminals, and mobile payments are growing very common.

Norwegian Krone Exchange Rate

The Xe Rate Alerts will let you know when the rate you need is triggered on your selected currency pairs. The Nok were one of the earliest iron-working societies from western Africa, but they are also known for their pottery. 1500–900 BC the pottery of the Early Nok Period are mostly small and not very well preserved. They seem to be richly decorated with various elaborate patterns directly below the vessels’ rims and covering a large part of the ceramic body. The lines made on the pottery seem to be remarkably fine or curving lines. There tend to be many lines that are close together and some even have crisscrossing lines beneath the rim.

Lofoten Islands: The Complete Guide to Norway’s Northern Paradise

The bank has issued its eighth series of banknotes, including the latest in November 2019, which saw new 1000-krone bills. The year before introduced the new 50-krone and 500-krone bills and 2017 brought the new 100-krone and 200-krone bills. Machines are unable to tell the coins apart, owing to their almost identical weight and size. Between 1994 and 1998, a new coinage was introduced, consisting of 50 øre, 1, 5, 10, and 20 kroner. These are the only coins that are currently legal tender, with the exception of the 50 øre coin which was withdrawn on 1 May 2012. It was withdrawn because it was no longer circulating as an ordinary coin used for payment.[10] However, banks in Norway still exchanged 50 øre coins for higher values until 2022.

For example, during the oil crisis of 2015, the krone fell 20% against the dollar. It was the lowest level for the krone, and it lasted for five months from October 2014 until February 2015. As a leading oil exporter in Western Europe, Norway funds a large portion of its budget from oil revenues. The value of the krone changes with changes in the price of crude oil.

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Famous for the distinctive terracotta sculptures of human heads and figures, Nok was the first known culture in West Africa to produce such art and perhaps the first sub-Saharan culture to perfect iron-smelting technology. Norwegians and tourists visiting Norway can get banknotes at the ATMs, commonly referred to as mini-banks, which are spread throughout the country. Debit and credit cards are also accepted in almost all stores and restaurants and can be used to make payments rather than paying using cash denominations.