(Bloomberg) -- Norway's krone rose to a 10-month
high versus the euro after the central bank raised interest rates
yesterday and indicated there are further increases to come.
The krone is the second best performer versus the dollar in
the past five days of the 16 major currencies monitored by
Bloomberg, as investors buy it to take advantage of Norway's
relatively high interest rate in the so-called carry trade.
Norges Bank yesterday lifted borrowing costs to 4.5 percent and
said it would increase them to 5.75 percent by the mid-2008.
Read more at Bloomberg Currencies News
high versus the euro after the central bank raised interest rates
yesterday and indicated there are further increases to come.
The krone is the second best performer versus the dollar in
the past five days of the 16 major currencies monitored by
Bloomberg, as investors buy it to take advantage of Norway's
relatively high interest rate in the so-called carry trade.
Norges Bank yesterday lifted borrowing costs to 4.5 percent and
said it would increase them to 5.75 percent by the mid-2008.
Read more at Bloomberg Currencies News
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