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Norway says competitiveness improved by weaker currency
October 15, 2015 / 9:19 AM / 2 years ago

Norway says competitiveness improved by weaker currency

OSLO, Oct 15 (Reuters) - Norway’s economic competitiveness has been improved by the fall in the value of the crown currency, central bank Governor Oeystein Olsen told a business conference on Thursday.

“The currency’s level is very important. Even though we don’t have a specific target for it, we’re very clear on the direction of the movement, so that it strengthens our competitiveness in times like these,” Olsen said.

“As a result of a weaker crown, Norway’s competitiveness has so far moved in the right direction,” he added. (Reporting by Camilla Knudsen, writing by Terje Solsvik, editing by Gwladys Fouche)

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