The Norwegian krone surprises. Holidays have suddenly become cheaper
The Norwegian krone is clearly strengthening. The exchange rate has reached its highest level in over three years. This increase is translating into greater interest in foreign holidays.
The krone is performing well despite global uncertainty.
Fot. materiały prasowe Apollo (zdjęcie poglądowe)
Since the beginning of 2026, the krone has gained 6.82 percent against the currencies of its main trading partners, according to the I44 index. This is the highest level since the turn of 2022/2023. The strengthening is supported by rising oil prices and expectations of interest rate hikes. This could mean the best period for the Norwegian currency in four years.
A stronger krone boosts tourism
The travel agency Apollo sold 40 percent more holiday trips in the last two weeks than a year earlier. These are the best sales weeks in 2026. The company indicates that the stronger krone may have influenced customers' decisions. At the same time, it notes that it is difficult to clearly determine the scale of the impact.
The krone has strengthened by over 7 percent against the euro, dollar, and pound. On April 22 at noon, the euro cost 10.90 NOK, the dollar 9.28 NOK, and the pound 12.55 NOK. It has also improved against the Swedish krona. Currently, 100 SEK costs about 101.4 NOK, compared to about 109 NOK before the holidays. Apollo emphasizes that travel prices are not increased after purchase. Short-term fluctuations in fuel costs do not affect the prices of sold offers.
The krone has strengthened by over 7 percent against the euro, dollar, and pound. On April 22 at noon, the euro cost 10.90 NOK, the dollar 9.28 NOK, and the pound 12.55 NOK. It has also improved against the Swedish krona. Currently, 100 SEK costs about 101.4 NOK, compared to about 109 NOK before the holidays. Apollo emphasizes that travel prices are not increased after purchase. Short-term fluctuations in fuel costs do not affect the prices of sold offers.
It is possible to maintain current exchange rate levels during the summer.Photo: fotolia.pl - royalty free
Global factors and market uncertainty
Experts point to the strong correlation between the Norwegian krone and oil prices. The increase in quotations followed military actions by the US and Israel against Iran. The exchange rate is also influenced by expectations regarding Norges Bank's policy, which signals the possibility of interest rate hikes. Investors' approach to the dollar and US assets is also changing. Similar movements can be seen in other risk-sensitive currencies, such as the Swedish krona or the Australian dollar.
High uncertainty related to the global situation persists. Travel agency clients are increasingly asking about travel safety. Concerns relate to a possible fuel crisis in aviation. Sentiment was also affected by the drone incident in Cyprus in March. Questions arise about additional costs and the execution of trips. Organizers assure that holiday programs will be carried out as planned.
High uncertainty related to the global situation persists. Travel agency clients are increasingly asking about travel safety. Concerns relate to a possible fuel crisis in aviation. Sentiment was also affected by the drone incident in Cyprus in March. Questions arise about additional costs and the execution of trips. Organizers assure that holiday programs will be carried out as planned.
Forecasts for the summer are mixed. Some analysts assume a possible weakening of the krone, with the euro exchange rate possibly ranging between 11 and 11.5 NOK. A drop in oil prices could weaken the currency, but improved market sentiment could have the opposite effect. In the longer term, there are expectations that 2026 will be a better year for the Norwegian krone than previous years.
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