🇳🇴 NOK vs 🇺🇦 UAH: Currency Strength Comparison
Data updated: November 6, 2026
On November 6, 2026, one Norwegian Krone bought 4.8131 UAH 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 NOK strengthened by 16.2% against UAH, so on momentum the Norwegian Krone (NOK) is the stronger of the two.
Adjusted for consumer-price inflation in both economies, NOK gained 22.6% in real terms against UAH over the same period.
NOK relative to UAH
Positive values mean NOK strengthened against UAH.
NOK vs UAH over the last three years
NOK against UAH, index 100 on November 6, 2023. A rising line means NOK gained on UAH. Dashed: the same, adjusted for consumer-price inflation in both economies. Green dot: 3-year high, red: 3-year low.
- 3-year high: 150.3 on November 3, 2026, when NOK was at its strongest against UAH in the period.
- 3-year low: 98.5 on November 8, 2023.
- Now: 146.2, 2.7% below the high and 48.5% above the low.
- Sharpest one-month move: NOK rose 11.5% against UAH between December 6, 2023 and December 28, 2023, around the time of “Norges Bank peak rate” (🇳🇴 December 14, 2023).
What moved NOK and UAH
- · 🇳🇴 Oil tops $108 as Iran targets Hormuz shipping — Escalation in the Strait of Hormuz extends the energy windfall for oil-exporting Norway
- · 🇺🇦 Trump envoys shuttle Moscow-Kyiv — Witkoff and Kushner meet Putin, then Zelensky, in a fresh push for peace; Putin pauses strikes on Kyiv
- · 🇺🇦 NBU unexpectedly hikes to 15.5% — Ukraine's central bank ends three straight holds, citing mounting inflationary pressure
- · 🇳🇴 US-Israel strikes trigger Iran war — Coordinated strikes on Iran spark a new Middle East conflict, sending oil prices sharply higher
- · 🇺🇦 EU agrees $105bn Ukraine loan — EU leaders agree to lend Ukraine roughly EUR90bn for 2026-27 after Russian-asset talks stall
- · 🇺🇦 US presents 28-point Ukraine peace plan — A Trump administration proposal is seen by Kyiv and allies as favoring Russian demands
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 |
|---|---|---|
| 🇳🇴 Norwegian Krone (NOK) | +9.6% | #1 of 16 |
| 🇺🇦 Ukrainian Hryvnia (UAH) | -6.7% | #16 of 16 |
Open the interactive NOK/UAH 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 NOK's index by UAH'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 NOK stronger than UAH right now?
It depends on the question. Per unit, 1 NOK = 4.8131 UAH (reference rate, November 6, 2026), so the Norwegian Krone is worth more. As for which one is gaining, over the past 12 months NOK strengthened by 16.2% against UAH, so on momentum the Norwegian Krone (NOK) is the stronger of the two.
How do NOK and UAH perform against other major currencies?
Against a basket of 15 major currencies over the past 12 months, NOK ranks #1 of 16 (+9.6%) while UAH ranks #16 (-6.7%).
What does the NOK vs UAH 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.