USD/NOK is an exchange rate that specifies how many NOK (Norwegian Krone ) can be converted into one USD (United States Dollar), therefore the base currency is USD and the price currency is NOK. If this rate declines, it means that NOK appreciates relative to USD and if this rate increases it means that the NOK depreciates against the USD. There are many macroeconomic factors/events (fundamentals) that affect USD/NOK exchange rate, which are usually common in both countries. Some of the most notable factors/events are GDP, Inflation or Consumer Price Index (CPI), Interest Rates and other monetary policies applied by central banks. The exchange rate reached the lowest value of 4.66 in October of 1978 and the highest of 9.84 in February of 1985. Regarding the trade relationship between US and Norway, the latter imports 0.27% of US's total exports, whereas US imports 4.2% of Norway's total exports. The largest component of US's exports are machinery, nuclear reactor and boiler products whereas Norway's largest export components are mineral fuels, oils, distillation products. Any significant shifts in the trade relationship between the two regions and changes in the values of the aforementioned components are some of the factors that could have a material impact on the pair.
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