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 Post subject: Norwegian Krone (NOK)
PostPosted: Tue Dec 22, 2009 12:20 am 
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From the Daily Pfennig on 21 December:

Quote:
One currency which could be among the best performers in 2010 is the Norwegian krone. The Norges bank has already begun to increase rates as their economy begins to expand. A story this morning reported that the Norges Bank Governor Svein Gjedrem will accept a stronger krone to achieve stable asset prices. Gjedrem is expected to keep interest rates ahead of inflation expectations, which should be positive for the Norwegian krone. The Norges bank was the first in Europe to start raising rates, as oil revenue pulled their economy out of recession. Apparently the bank has now accepted that the Norwegian krone will move higher as they raise interest rates.

http://www.dailypfennig.com/currentIssue.aspx?date=12/21/2009

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 Post subject: Re: Norwegian Krone (NOK)
PostPosted: Wed Dec 23, 2009 8:02 am 
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Does any one know what the interest rates on NOK??
Deposit rate.I am thinking in converting euros to nok.

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 Post subject: Re: Norwegian Krone (NOK)
PostPosted: Thu Dec 24, 2009 12:55 pm 
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Apparently 1.75% after last week's hike:

http://www.marketwatch.com/story/norway-unexpectedly-hikes-rates-to-175-2009-12-16

And here's someone who likes the Krone:

http://worldcurrencywatch.com/2009/12/23/two-rate-hikes-down-and-more-to-go/

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 Post subject: Re: Norwegian Krone (NOK)
PostPosted: Mon Feb 22, 2010 3:44 pm 
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i need to change about 40k GBP into other currencies (cash) before sterling becomes worthless :lol:

going to be doing this over the next month or two...

NOK will definitely be in the mix. i'm going to be doing a load more research, but out of curiosity, what do you guys think would be good holds for currency medium-long term. i'm also thinking about aussie, loonie, singapore and perhaps hk, rmb, maybe even real. worried about potential housing bubbles in australia, canada, so these may not be the optimal currencies to hold in 2010, considering they have performed so well so far. new zealand have their own $ too, anyone know anything about that?

i'm not going down the US $ and Euro route at all cause i think they are more speculation and tradable plays. the goal here is just to sit and hold some stable currencies, preserve purchasing power, be liquid and come out on top when the pound next gets pounded. the thing about the pound is it is a matter of when and not if the next leg down begins, so holding other currencies is about as risk-free as it gets imo.


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 Post subject: Re: Norwegian Krone (NOK)
PostPosted: Sat Feb 27, 2010 12:23 am 
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well i spoke too soon regarding the pound, hope it rebounds a little before i finalise and fund the new savings accounts :FF_surprise: :FF_surprise: :FF_surprise:

currency picks are AUD, NOK & SGD :FF_thumbsup:


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 Post subject: Re: Norwegian Krone (NOK)
PostPosted: Mon May 17, 2010 6:38 am 
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Just saw this now months-old post, but thought I'd add a few thoughts anyway.

The global strategist (a Brit) at the old investment bank I worked at (a top-rated one in Asia) used to say (haven't read his stuff in a year or so) that the only currency he'd advise anyone to hold would be SGD.

Singapore's got all kinds of things going for it and like everywhere else in Asia pretty much holds back its currency (though does appreciate steadily and sometimes in spurts), so there's lots of room for upside as the dam holding it back crumbles.

As far as two other Asian currencies that you mentioned go, HKD is pegged to the USD, so sucks for now. RMB will appreciate but slowly and there are too many headaches to trading it - not what I'd call a safe, liquid tool.

Your picks of AUD, NOK and SGD sound like a decent mix to me.

:FF_thumbsup:

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 Post subject: Re: Norwegian Krone (NOK)
PostPosted: Mon Jul 12, 2010 3:17 am 
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thanks for the comments jaba! :thumbs_up: ended up staying away from AUD and have only bought some SGD so far. had a bad feeling about AUD short-term and that proved to be correct. SGD seems to be stable in a number of different situations (that's the idea of the way they set policy right) and this is intended as a hold as opposed to any trades back and forth. PMs and currencies seem to hedge against most scenarios as we see where things go.

if stocks suffer badly again in another deflationary panic and things don't completely fall apart, i think i will be looking to future technology sector companies.


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