Historic Norwegian krone Chinese Yuan Renminbi

Norwegian krone chinese yuan renminbi history for August 2023. The highest quote for this month is 0.70517 (07/08/2023) and the lowest 0.70818 (10/08/2023). The difference between high and low is -0.43.

NOK CNY average rate for August 2023 is 0.69224, the change between 01/08/2023 and 31/08/2023 is +2.04 %.

01 August 20231 NOK = 0.7017 CNY
02 August 20231 NOK = 0.7066 CNY
03 August 20231 NOK = 0.6990 CNY
04 August 20231 NOK = 0.7004 CNY
07 August 20231 NOK = 0.7035 CNY
08 August 20231 NOK = 0.7088 CNY
09 August 20231 NOK = 0.7030 CNY
10 August 20231 NOK = 0.7070 CNY
11 August 20231 NOK = 0.6995 CNY
14 August 20231 NOK = 0.6896 CNY
15 August 20231 NOK = 0.6927 CNY
16 August 20231 NOK = 0.6917 CNY
17 August 20231 NOK = 0.6874 CNY
18 August 20231 NOK = 0.6879 CNY
21 August 20231 NOK = 0.6842 CNY
22 August 20231 NOK = 0.6779 CNY
23 August 20231 NOK = 0.6864 CNY
24 August 20231 NOK = 0.6771 CNY
25 August 20231 NOK = 0.6784 CNY
28 August 20231 NOK = 0.6825 CNY
29 August 20231 NOK = 0.6810 CNY
30 August 20231 NOK = 0.6880 CNY
31 August 20231 NOK = 0.6874 CNY

30/10/2016: Withdrawal of the 1000-krone banknote

The Norges Bank phased out the 1000-krone banknote, as part of efforts to combat money laundering and reduce the use of cash in the economy.

29/11/2015: Inclusion of the Renminbi in IMF's SDR Basket

The International Monetary Fund (IMF) includes the Renminbi in its Special Drawing Rights (SDR) basket, recognizing its global importance as a reserve currency and boosting the international status of the Chinese Yuan Renminbi.

18/06/2009: Resumption of Renminbi Appreciation

China allows the Renminbi to resume an appreciation trajectory against the US dollar after a period of stability, signaling a shift in the country's exchange rate policy.

20/07/2005: Introduction of Managed Float

China adopts a managed floating exchange rate system, allowing the Renminbi to fluctuate within a narrow band against a basket of currencies, reducing its dependence on the US dollar.

01/01/1999: Creation of the euro

Several European countries introduced the euro as a common currency, but Norway chose to maintain the krone, cementing its separate monetary path.

31/12/1993: Renminbi Pegged to US Dollar

China pegs the value of the Renminbi to the US dollar, setting an exchange rate of 8.28 Yuan per dollar, which remains fixed for over a decade, impacting China's export competitiveness.

31/12/1992: Introduction of Dual Currency System

China introduces a dual currency system, with the offshore Renminbi (CNH) and the onshore Renminbi (CNY), aiming to facilitate foreign exchange flows and international trade.

19/11/1992: Norway rejects European Union membership

In a referendum, Norway voted against joining the European Union, reaffirming its independent monetary policy and keeping the krone outside the eurozone.

14/08/1971: End of the Bretton Woods System

The United States suspends the convertibility of the US dollar to gold, leading to the collapse of the Bretton Woods System and a shift towards floating exchange rates, affecting the value of the Chinese Yuan Renminbi.

14/12/1948: Formation of the People's Bank of China

The People's Bank of China was established, marking the beginning of central banking in China and the introduction of the Chinese Yuan Renminbi as the official currency.

22/10/1931: Devaluation of the krone

To counter the effects of the Great Depression, Norway devalued the krone by 14%, aiming to boost exports and stimulate the economy.

01/11/1920: Krone's return to the gold standard

Following the end of World War I, Norway reintroduced the gold standard for the krone, stabilizing its value and restoring confidence in the currency.

02/08/1914: Suspension of krone's gold standard

Due to the outbreak of World War I, Norway suspended the krone's convertibility into gold, allowing for more flexibility in monetary policy during the war.

27/10/1875: The introduction of the krone currency

The krone was established as the official currency of Norway, replacing the previous speciedaler, marking a significant milestone in the country's monetary history.