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Norwegian crown slumps to 13-year low

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The Norwegian crown slumped to a 13-year low against the dollar on Thursday, after the central bank surprisingly cut interest rates to record lows to boost growth in an economy struggling with the falling price of oil, its main export.

London

THE Norwegian crown slumped to a 13-year low against the dollar on Thursday, after the central bank surprisingly cut interest rates to record lows to boost growth in an economy struggling with the falling price of oil, its main export.

It shed over 2 per cent to trade at 8.