School Articles

NOK serves as the abbreviation for the Norwegian krone on foreign exchange markets. Norges Bank, the central bank of Norway, regulates the supply of the Norwegian krone through its economic policies. A total of seven series of banknotes have been issued by Norges Bank with an eighth series slated to appear in the second quarter of 2017.

The currency code for the Danish krone ("crown"), the official currency for the country of Denmark as well as the provinces of Greenland and the Faroe Islands. The Danish krone (DKK) was made the formal currency of Denmark in 1873, replacing the former Danish rigsdaler, and was tied to the gold standard.

In currencies, this is the abbreviation for the Swedish Krona.

GBP is the abbreviation for the British pound sterling, the official currency of the United Kingdom, the British Overseas Territories of South Georgia, the South Sandwich Islands and British Antarctic Territory and the U.K. crown dependencies: the Isle of Man and the Channel Islands. The African country of Zimbabwe also uses the pound. The British pound is pegged to the Falkland Islands pound, Gibraltar pound, Saint Helenian pound, Jersey pound (JEP), Guernsey pound (GGP), Manx pounds, Scotland notes and Northern Ireland notes.

XRP is the native currency of the Ripple network. XRP are currently divisible to 6 decimal places, and the smallest unit is called a drop with 1 million drops equaling 1 XRP. There were 100 billion XRP created at Ripple's inception, with no more allowed to be created according to the protocol's rules. As such, the system was designed so XRP is an asset with decreasing available supply. Not dependent on any third party for redemption, XRP is the only currency in the Ripple network that does not entail counterparty risk, and it is the only native digital asset.