Norwegian krone is at its strongest against the dollar and the euro since the autumn, the krone seems set for a "sustained appreciation" over the next year and a half.

Norwegian Krone Is the World's Safest Currency

The krone is the safest currency around today 2009.04.24

The U.S. dollar, the Swiss franc and the Japanese yen — each of these has a history of safe havens. But as the economies of those three countries flounder, they have started searchingfor a new safe haven to protect them from the economic crisis.

The banking giant HSBC wrote in a research paper this month, that the "The best safe haven currency," is Norway’s. According to HSBC, right at this time the Krone is "Probably the best currency in the world." (Borrowing a jingle from Carlsberg I think ;-)

Currently the krone is at its strongest against the dollar and the euro since the autumn, and it seems set for a "sustained appreciation" over the next year and a half.

According to HSBC, the main reason Norway's budget and current-account surpluses are the largest among countries with the 10 most traded currencies, is the country's $350 billion sovereign wealth fund, fed by the country's oil revenues?

Norway's output is expected to sink as little as 1.2% this year, a lot less than most of the world's leading economies, the krone, HSBC said, represent "the ultimate safe haven."

Who knows we’ll just have to wait and see.

Norwegian Krone and Home