Norges Bank is issuing a new 1000-krone banknote
The new 1000-krone banknote will be put into circulation on 14 November 2019. The launch marks the completion of the new banknote series.
The first four denominations in Norway’s new banknote series were launched in 2017 and 2018. The time has now come for the highest denomination. To mark the launch, an event is being held at the Institute of Marine Research at Bergen Aquarium.
The motifs on all denominations of the new banknote series depict the sea and are based on proposals from Metric Design, Terje Tønnessen and Snøhetta. The notes as printed have been created by the artist Sverre Morken and Norges Bank’s own banknote designers Arild Yttri and Morten Johansen.
“The new 1000-krone banknote will be put into circulation on 14 November 2019. The 1000-krone banknote from the previous series may continue to be used for one year from this date. After this period, Norges Bank is obliged to redeem the banknote for at least an additional 10 years,” says Leif Veggum, Director of the Norges Bank Cashier’s Department.
The 1000-krone banknote is less used than previously, partly because it is not commonly supplied to ATMs. Nevertheless, this denomination is important for the overall efficiency of the payment system.
“People should be able to make payments without having to use an unnecessarily large number of banknotes or receive lots of banknotes in change. In Norges Bank’s assessment, five denominations, with the 50-krone note as the lowest denomination and the 1000-krone note as the highest, constitute the most appropriate range,” says Veggum.
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