Preliminary prices and exchange rates
The Euro is the official day-ahead market trading currency.
As Nord Pool offers a currency service, all our customers can choose to trade in either EUR, NOK, SEK or DKK. In order to calculate the prices all orders need to be converted into the same currency - EUR.
Prior to price calculation, Nord Pool gets the currency rates valid at 12:00 CET. These preliminary currency rates are used in the price calculation. Preliminary prices appear on our front page.
The trading systems determine the amount of each currency needed to perform settlement for all members in the correct trading currency. Once EUR prices are complete, Nord Pool contacts two to three banks to perform official currency hedging, and the official exchange rates are set.
During weekends, only the preliminary currency rate is used. Official hedging for weekends is carried out on the following Monday morning.
Preliminary and official exchange rates can be found in the bottom of the market data pages.