The Nobel Foundation has decided to raise the award amount for this year’s Nobel Prizes by 1 million kronor ($90,000) to 11 million kronor ($986,270) as the Swedish currency has plummeted recently
The Nobel Foundation said Friday that it will raise the award amount for this year’s Nobel Prizes by 1 million kronor to 11 million kronor as the Swedish currency has plummeted recently.
The rapid depreciation of the Swedish currency has pushed it to its lowest level ever against the euro and the U.S. dollar. Sweden has been struggling with high inflation — it was 7.5% in August, down from 9.3% in July, far from the 2% target set by the Riksbank, Sweden’s central bank.When the first Nobel Prizes were awarded in 1901, the prize amount was 150,782 kronor per category, the foundation said.
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Nobel Foundation raises the amount for this year’s Nobel Prize awards to 11 million kronorThe Nobel Foundation has decided to raise the award amount for this year’s Nobel Prizes by 1 million kronor ($90,000) to 11 million kronor ($986,270) as the Swedish currency has plummeted recently.
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