This is the Forex quote for the Euro versus the Norwegian Krone. In this quote, the value of one Euro ('base currency') is quoted in terms of the Norwegian Krone ('counter currency'). The value of the Norwegian Krone compared to other currencies, in particular the EUR, is often correlated to changes in oil prices and interest rates. Thus, with rising oil prices and interest comes Krone strength relative to other currencies and vice versa.
The Norwegian Krone is strengthening after Norway’s central bank left interest rates unchanged but said its policy rate will most likely be increased next month.