Alfred Nobel died in 1896. In accordance with Alfred Nobel’s wishes, the prestigious Peace Prize is awarded in Oslo, while other award ceremonies are held in Stockholm. Sweden is not part of the Eurozone. Twenty years ago, Sweden held a referendum on joining the European currency and voted against it.
The Nobel Foundation said Friday it would increase the prize money for this year’s Nobel Prizes from 1 million kronor (US$90,000) to 11 million kronor (US$986,270) because of the Swedish currency’s recent slide. “The Foundation has decided to increase the prize money because it is economically feasible to do so,” a brief statement from the Nobel Foundation said. The Swedish currency’s rapid depreciation has pushed it to its lowest value against the euro and the US dollar. Has reached its lowest level. Sweden is struggling with high inflation.
Inflation was 9.3 percent in July, and 7.5 percent in August, far from the two percent target set by Sweden’s central bank, the Riksbank. The foundation said that when the first Nobel Prize was awarded in 1901, the prize money was 150,782 kroner per category. The foundation said that over the past 15 years, the amount has been adjusted several times. In 2012, it was reduced from 10 million kroner to 8 million kroner as a comprehensive program was launched to strengthen the Nobel Foundation’s finances. In the year 2017, the prize money was increased from 80 lakh kroner to 90 lakh kroner. At the same time, in 2020 it was increased to 10 lakh kroner.
This year’s Nobel Prize winners will be announced in early October. The laureates are then invited to receive their awards at an awards ceremony on 10 December, the death anniversary of prize founder Alfred Nobel. Alfred Nobel died in 1896. In accordance with Alfred Nobel’s wishes, the prestigious Peace Prize is awarded in Oslo, while other award ceremonies are held in Stockholm. Sweden is not part of the Eurozone. Twenty years ago, Sweden held a referendum on joining the European currency and voted against it.
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