Current:Home > BackNobel Foundation raises the amount for this year’s Nobel Prize awards to 11 million kronor-Angel Dreamer Wealth Society D1 Reviews & Insights
Nobel Foundation raises the amount for this year’s Nobel Prize awards to 11 million kronor
View Date:2024-12-23 19:20:23
STOCKHOLM (AP) — The Nobel Foundation said Friday that it will 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 Foundation has chosen to increase the prize amount because it is financially viable to do so,” it said in a brief statement.
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.
Over the past 15 years, the amount has been adjusted several times, it said. In 2012, it was reduced from 10 million kronor to 8 million kronor as a broad-based program to strengthen the Nobel Foundation’s finances was initiated. In 2017, the prize amount was increased from 8 million kronor to 9 million kronor. In 2020, it was raised to 10 million kronor.
This year’s Nobel Prize winners will be announced in early October. The laureates are then invited to receive their awards at prize ceremonies on Dec. 10, the anniversary of award founder Alfred Nobel’s death in 1896. The prestigious peace prize is handed out in Oslo, according to Nobel’s wishes, while the other award ceremonies are held in Stockholm.
Sweden is not part of the eurozone. Twenty years ago, Swedes held a referendum on whether to join the European currency and voted against it.
veryGood! (2935)
Related
- Giuliani’s lawyers after $148M defamation judgment seek to withdraw from his case
- 'Park outside': 150,000 Jeep Cherokee and Wrangler hybrids recalled for fire risk
- Court says betting on U.S. congressional elections can resume, for now
- Justice Department launches first federal review of 1921 Tulsa Race Massacre
- Trump pledged to roll back protections for transgender students. They’re flooding crisis hotlines
- Analyzing Alabama-Georgia and what it means, plus Week 6 predictions lead College Football Fix
- Former Packers RB Eddie Lacy arrested, charged with 'extreme DUI'
- What time is the 'Ring of Fire' eclipse? How to watch Wednesday's annular eclipse
- Diddy's ex-bodyguard sues rape accuser for defamation over claims of 2001 assault
- Lauryn Hill sued by Fugees' Pras Michel for fraud and breach of contract after tour cancellation
Ranking
- What Happened to Kevin Costner’s Yellowstone Character? John Dutton’s Fate Revealed
- Atlanta rapper Rich Homie Quan died from an accidental drug overdose, medical examiner says
- FACT FOCUS: A look at false and misleading claims during the vice presidential debate
- Kyle Richards Swears These Shoes Are So Comfortable, It Feels Like She’s Barefoot
- Brian Austin Green’s Fiancée Sharna Burgess Celebrates Megan Fox’s Pregnancy News
- Maryland governor aims to cut number of vacant properties in Baltimore by 5,000
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, College Food
- Analyzing Alabama-Georgia and what it means, plus Week 6 predictions lead College Football Fix
Recommendation
-
Appeals Court Affirms Conviction of Everglades Scientist Accused of Stealing ‘Trade Secrets’
-
Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, College Food
-
How Earth's Temporary 2nd Moon Will Impact Zodiac Signs
-
Why status of Pete Rose's 'lifetime' ban from MLB won't change with his death
-
DWTS’ Sasha Farber and Jenn Tran Prove They're Closer Than Ever Amid Romance Rumors
-
Shock of deadly floods is a reminder of Appalachia’s risk from violent storms in a warming climate
-
Carvana stock price is up 228%, but a red flag just emerged
-
Scammers are accessing Ticketmaster users' email accounts, stealing tickets, company says