USD
NOK
What USD/NOK is
USD/NOK (also written USDNOK) is the price of a US dollar in Norwegian krone. The US dollar is the base currency and the krone is the quote currency. When the quote rises, a dollar buys more krone, so the dollar has strengthened against the krone. When it falls, the krone has strengthened.
USD/NOK is usually grouped with the exotic or Scandinavian pairs, not the majors. It trades in smaller volumes than pairs like EUR/USD or USD/JPY. For more on how pairs are grouped, see Majors, minors, exotics.
How to read the quote
Your platform shows a bid (the price you sell at) and an ask (the price you buy at). The gap between them is the spread, a cost you pay on every trade. USD/NOK is quoted to several decimal places. The last digit is usually a pipette, a fraction of a pip.
Pip size and pip value
A pip is the standard unit of price change for the pair. On USD/NOK the pip is in krone, because krone is the quote currency. Its value per lot is:
- pip size × contract size = pip value in NOK;
- to convert it to a USD account, divide by the current USD/NOK rate.
So the pip value in dollars changes as the rate moves. Use the calculator below to get the value for your lot size and account currency.
Fill in the empty fields to see the result.
What tends to move USD/NOK
The US dollar side
- Federal Reserve policy. Rate decisions, the statement and the press conference. The dot plot shows where Fed officials expect rates to go, and changes in it can move the dollar even when rates are unchanged.
- US jobs (NFP). The monthly non-farm payrolls report is a regular source of sharp moves.
- US inflation (CPI). Higher or lower inflation than expected changes the rate outlook.
- Treasury yields. Rising US yields often support the dollar; falling yields often weigh on it.
- Global risk appetite. In periods of market stress, traders often move into the dollar and out of smaller currencies like the krone.
The Norwegian krone side
- Norges Bank policy. Norway's central bank sets the policy rate. The gap between Norwegian and US rates matters for the pair.
- Oil and gas prices. Norway is a large energy exporter, so the krone often reacts to crude oil and gas prices. See Energies for how those markets work.
- Liquidity. The krone is a small currency. In thin markets, large orders can move the price more than they would in a major pair, and the krone can weaken sharply when risk appetite falls.
Analysis tools for these drivers are covered in Fundamental analysis and Technical analysis. USD/NOK often moves in a similar direction to USD/SEK, and EUR/NOK shows the krone against the euro. See Pair correlations.
Sessions, liquidity and spreads
- European session. Oslo trades in European hours, so liquidity in krone is usually best here.
- London and New York overlap. Often the most active part of the day, with US data releases.
- Asian session. Usually thin for USD/NOK. Spreads tend to be wider.
- Daily rollover and Monday open. Spreads often widen around the daily rollover. Prices can gap over the weekend, so a stop-loss may be filled at a worse price than set.
- News releases. Spreads widen and prices can jump around Fed, Norges Bank, NFP and CPI releases.
As an exotic pair, USD/NOK usually has wider spreads and higher swaps (the overnight financing charge or credit) than major pairs.
USD/NOK at Exness: what we can and cannot confirm
We do not have a sourced Exness specification for USD/NOK. Before relying on anything, open the instrument list in your platform and check that the pair is offered on your account type. Then check its contract specification: spread, contract size, minimum and maximum volume, margin, swap and trading hours.
What applies to forex at Exness in general:
- Around high-impact news, orders opened from 15 minutes before to 90 seconds after high-impact news are subject to higher margin requirements; for forex this is 1:200 (0.5%).
- Clients registered from countries on the Exness list, which includes Pakistan, are assigned swap-free status automatically. Check the current status of your account in the Personal Area.
- Account types and their general conditions are compared on Account types.
Use the margin calculator to see how much margin a position needs at your leverage. On USD/NOK the margin is calculated in dollars, because the dollar is the base currency.
Fill in the empty fields to see the result.
Ready to try it on a real or demo account?
Partner link · trading carries a high risk of loss
Risk and the legal position in Pakistan
Leveraged forex and CFD trading can lose money fast, and exotic pairs can move sharply on thin liquidity. Read Risk management before trading.
Per the SBP, the purchase of offshore forex/margin/CFD products by Pakistani residents violates section 4(1) of FERA 1947. Per the SECP, offshore platforms have no Pakistani licence or oversight and offer no legal protection or recourse. Read Law and regulators before you open an account.
Frequently asked questions
Is there a USDNOK forecast on this page?
No. We do not publish forecasts, price levels or buy and sell ideas. The page explains what tends to move the pair so you can follow the drivers yourself.
Why does the pip value change on a USD account?
The pip is worth a fixed amount in krone. Converting it to dollars depends on the current USD/NOK rate, so the dollar value moves with the price.
Why are spreads on USD/NOK wider than on EUR/USD?
The krone trades in smaller volumes. Less liquidity usually means wider spreads, especially in the Asian session, at rollover and around news.
Does oil affect the dollar krone pair?
Often, yes. Norway exports oil and gas, so energy prices can influence the krone. The link is not constant and can break down.
Can I practise USD/NOK without real money?
Exness gives a demo account with 10,000 USD (virtual) by default. Check whether USD/NOK appears in the demo instrument list. See Demo account.
