The NOK to DKK (Norwegian Krone to Danish Krone) currency pair is an interesting one. This pairing is particularly noteworthy because of its key role in the Scandinavian Economic Union, which binds together the economies of Denmark, Norway and Sweden. As a result, fluctuations in the exchange rate between the two currencies are often quite similar and closely linked.
This pairing has been a popular one for many years, and it's also very liquid with high daily trading volumes. Traders looking to capitalize on the Scandinavian Economic Union often use this currency pair as part of their overall strategy.
The Norwegian Krone (NOK) and the Danish Krone (DKK are two of the most frequently traded currency pairs. Their price histories reveal a great deal about how their respective economies have performed over time.
The NOK/DKK pair has seen some dramatic highs and lows in recent decades, with its highest rate in Jan 2013 at 1.01 NOK/DKK and its lowest rate in March 2020 at 0.59 NOK/DKK. This is a difference of over 42% in the exchange rate between the two currencies.
The dramatic highs and lows in this currency pair are likely due to several factors, including the economic performance of both countries, political developments that could affect their respective markets, fluctuations in oil prices (i.e. Norway's dependence on oil exports), and more.
Trading the Norwegian Krone (NOK) to Danish Krone (DKK) has several advantages, such as low transaction costs, an efficient and transparent order execution process, and low spreads between the two currencies. The currency pair also offers high liquidity, making it easy to enter and exit positions quickly.
In addition to trading NOK/DKK, traders should take note of other currency pairs to watch. The US Dollar (USD)/Swiss Franc (CHF) is another attractive choice for traders, as the Swiss franc is seen as a safe-haven currency. It is also highly liquid, making it easy to enter and exit positions quickly. The British Pound Sterling (GBP)/Japanese Yen (JPY) is also a popular currency pair, as both currencies are seen as safe havens and have relatively low volatility. Last but not least, the Euro (EUR)/US Dollar (USD) is one of the most traded currency pairs in the world. It has high liquidity, making it ideal for traders looking to enter positions quickly and easily.
|Swap long||[[ data.swapLong ]] points|
|Swap short||[[ data.swapShort ]] points|
|Spread min||[[ data.stats.minSpread ]]|
|Spread avg||[[ data.stats.avgSpread ]]|
|Min contract size||[[ data.minVolume ]]|
|Min step size||[[ data.stepVolume ]]|
|Commission and Swap||Commission and Swap|
|Trading Hours||Trading Hours|
* The spreads provided are a reflection of the time-weighted average. Though Skilling attempts to provide competitive spreads during all trading hours, clients should note that these may vary and are susceptible to underlying market conditions. The above is provided for indicative purposes only. Clients are advised to check important news announcements on our Economic Calendar, which may result in the widening of spreads, amongst other instances.
The above spreads are applicable under normal trading conditions. Skilling has the right to amend the above spreads according to market conditions as per the 'Terms and Conditions'.
Why Trade [[data.name]]
Make the most of price fluctuations - no matter what direction the price swings and with low capital investment.