Bank of England daily
HMRC NOK/GBP Monthly Average Rate · November 2016
NOK units per £1 · Norwegian Krone · Norway
Source · HMRC
Using this rate for a CGT calculation?
TealFX compares HMRC and BoE rates automatically — and identifies the most favourable compliant rate.
HMRC monthly average vs BoE daily rates
HMRC Monthly Average
November 2016
NOK per £1
BoE Daily Range
November 2016 · 22 trading days
Browse daily BoE rates →
Both sources are HMRC-accepted. You must use the same rate source consistently across acquisition and disposal within a single CGT calculation. We calculate your gain under both and show you the difference. Try the calculator →
What is the HMRC monthly average rate?
HMRC publishes official monthly average exchange rates for use in UK tax calculations. For November 2016, the NOK/GBP rate is 10.0000 — meaning £1 sterling buys 10.0000 Norwegian Krone.
These rates are published on the penultimate Thursday of each month and apply to the following month. They are the standard reference for HMRC-compliant tax reporting, including capital gains tax on the disposal of foreign assets.
To convert a NOK amount to GBP using this rate: divide the NOK amount by 10.0000.
Using this rate for capital gains tax
If you acquired or disposed of a foreign asset in November 2016, this HMRC monthly average rate is one of two acceptable rate sources for your capital gains tax calculation.
The other is the Bank of England daily spot rate on the transaction date. HMRC permits either — but you must apply the same source consistently across acquisition and disposal within a single asset calculation.
The choice of rate source can make a meaningful difference to your CGT liability. We calculate both automatically and show the sterling gain under each.
Step-by-step: NOK to GBP CGT calculation using the November 2016 rate
Convert acquisition cost
Take your original purchase price in NOK. Divide by the HMRC rate for the month of acquisition to get the sterling cost.
Convert disposal proceeds
Take your sale price in NOK. Divide by the HMRC rate for the month of disposal — which may be this rate if you sold in November 2016.
Calculate the gain
Subtract the sterling acquisition cost from the sterling disposal proceeds. The difference is your capital gain in GBP — reportable to HMRC.
Note on rate consistency: HMRC requires you to use the same rate source (monthly average or daily spot) for both acquisition and disposal within a single calculation. You cannot mix sources. We enforce this automatically and show the result under both sources side by side.
Other HMRC rates for November 2016
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Use this rate in your CGT calculation
Enter your disposal details and TealFX applies the November 2016 NOK rate automatically — then compares it against the Bank of England spot rate so you can use the most favourable compliant figure.
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Frequently asked questions
What was the NOK exchange rate in November 2016?
The HMRC official monthly average exchange rate for Norwegian Krone (NOK) in November 2016 was 10.0000 NOK per £1 GBP. To convert a NOK amount to sterling, divide by 10.0000. For example, NOK 100,000 ÷ 10.0000 = £10,000.
What exchange rate do I use to report foreign income or capital gains to HMRC?
HMRC allows two approved rate sources: the HMRC monthly average exchange rate or the Bank of England daily spot rate (the 4pm fixing on the transaction date). Both are valid. For capital gains tax, using the more favourable rate can make a significant difference on large disposals. TealFX calculates your gain under both rates automatically.
Can I use the November 2016 HMRC monthly average rate for capital gains tax?
Yes. HMRC accepts the monthly average exchange rate as a valid method for converting foreign currency amounts to sterling for CGT purposes. You may use either the monthly average rate or the Bank of England daily spot rate — but must apply one source consistently across acquisition and disposal.
Where does HMRC publish official exchange rates?
HMRC publishes official monthly average exchange rates at trade-tariff.service.gov.uk. Rates are published on the penultimate Thursday of the prior month. TealFX imports these rates directly, so the figures on this page match HMRC's published data.