Norway’s Krone Falls on China’s Reserve Requirements

The Norwegian currency ended this week losing versus the euro and the dollar, after the crude oil rally that fueled the krone’s advance during most of this week’s session lost strength, since risk aversion returned to trading markets this Friday with a new Chinese restrictive lending policy announcement.

Risk aversion returned to markets today impacting the Norwegian commodity-linked currency after several days of advances versus the euro and the U.S. dollar as China took a further step in changing its lending requirements for banks in the country, in order to prevent the country’s inflation to grow further.

USD/NOK ended the week at 5.9064 from an opening rate on Friday at 5.8923.

If you have any questions, comments or opinions regarding the Norwegian Krone,
feel free to post them using the commentary form below.