🇨🇿 CZK vs 🇳🇴 NOK: Currency Strength Comparison
Data updated: November 6, 2026
On November 6, 2026, one Norwegian Krone bought 2.3133 CZK at the official reference rate, so per unit the Norwegian Krone is worth more. A higher unit value only reflects how each currency is denominated, not which one is gaining: over the past 12 months CZK weakened by 10.3% against NOK, so on momentum the Norwegian Krone (NOK) is the stronger of the two.
Adjusted for consumer-price inflation in both economies, CZK lost 9% in real terms against NOK over the same period.
CZK relative to NOK
Positive values mean CZK strengthened against NOK.
CZK vs NOK over the last three years
CZK against NOK, index 100 on November 6, 2023. A rising line means CZK gained on NOK. Dashed: the same, adjusted for consumer-price inflation in both economies. Green dot: 3-year high, red: 3-year low.
- 3-year high: 101.9 on December 16, 2025, when CZK was at its strongest against NOK in the period.
- 3-year low: 87.5 on October 30, 2026.
- Now: 89.4, 12.3% below the high and 2.1% above the low.
- Sharpest one-month move: CZK rose 6.9% against NOK between April 2, 2025 and April 16, 2025.
What moved CZK and NOK
- · 🇳🇴 Oil tops $108 as Iran targets Hormuz shipping — Escalation in the Strait of Hormuz extends the energy windfall for oil-exporting Norway
- · 🇨🇿 CNB hikes to 3.75%, first since 2022 — Czech National Bank reverses course amid inflation risk, a widening deficit, and the Iran war
- · 🇳🇴 US-Israel strikes trigger Iran war — Coordinated strikes on Iran spark a new Middle East conflict, sending oil prices sharply higher
- · 🇳🇴 Norges Bank cuts to 4.25% — Norges Bank delivers its first cut of the cycle, lowering the rate to 4.25%
- · 🇨🇿 CNB starts cutting — Czech National Bank begins cutting from 7.00% peak
- · 🇳🇴 Norges Bank peak rate — Norges Bank raises to 4.50%, highest since 2008
Major central-bank decisions, elections and shocks for the two currencies since November 6, 2023. The interactive chart marks them on the line.
Performance against 15 major currencies
| Currency | 12-month change vs basket | Rank |
|---|---|---|
| 🇨🇿 Czech Koruna (CZK) | -2.4% | #12 of 16 |
| 🇳🇴 Norwegian Krone (NOK) | +9.6% | #1 of 16 |
Open the interactive CZK/NOK chart →
How this comparison works
Each currency's strength index starts at 100 and accumulates its daily change against 15 other major currencies (a geometric mean of pairwise exchange-rate moves), using European Central Bank reference rates and other official sources. The relative figures above divide CZK's index by NOK's, so they reflect the two currencies' performance against each other while accounting for the whole basket. The real variant additionally adjusts each currency for its domestic CPI inflation.
Read the full methodology →Frequently asked questions
Is CZK stronger than NOK right now?
It depends on the question. Per unit, 1 NOK = 2.3133 CZK (reference rate, November 6, 2026), so the Norwegian Krone is worth more. As for which one is gaining, over the past 12 months CZK weakened by 10.3% against NOK, so on momentum the Norwegian Krone (NOK) is the stronger of the two.
How do CZK and NOK perform against other major currencies?
Against a basket of 15 major currencies over the past 12 months, CZK ranks #12 of 16 (-2.4%) while NOK ranks #1 (+9.6%).
What does the CZK vs NOK strength comparison show?
Rather than a single exchange rate, this page compares how each currency performed against a basket of 15 major currencies, then derives their relative strength. It filters out moves caused by the other currency alone and shows who is truly stronger.
How often is the data updated?
Every trading day (Monday to Friday), after the European Central Bank publishes its reference rates, usually around 16:00 CET.