The NOK is back on track versus the THB and USD

We have been following the latest development of the Norwegian Krone currency exchange rate versus the Thai Baht and also the Thai Baht versus the US Dollar. The weakening of the Norwegian Krone in March had serious implications for Norwegian export to Thailand and similar implications for Thai companies working with Norwegian client bases, but since then the Norwegian Krone has strengthened. 

The weakened NOK meant that Norwegian goods and services became more expensive for Thai buyers, potentially reducing demand and hurting profits for Norwegian exporters. Similarly, Thai companies working with Norwegian clients may have experienced a decline in business due to the higher costs associated with working with a weakened NOK.

we are pleased to report that since then, the NOK has strengthened against the THB. This is good news for Norwegian exporters to Thailand, as it means their goods and services are now more competitively priced in the Thai market. Additionally, Thai companies that work with Norwegian clients may find it easier to generate business, as Norwegian clients may now have more purchasing power due to the stronger NOK.

Overall, these currency fluctuations highlight the importance of monitoring exchange rates and their impact on international trade. By keeping a close eye on these developments, we can help businesses stay competitive and identify opportunities for growth in new markets.

Furthermore, the stronger NOK may provide more purchasing power to Norwegian clients, which could benefit Thai companies that work with them. To better document the developments in 2020, we have put together graphs that illustrate the exchange rates between the NOK, THB, and USD over time. These graphs should provide useful insights for anyone interested in tracking the movements of these currencies and their impact on trade between Norway and Thailand.

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