The Nobel Basis has determined to lift the award quantity for this 12 months’s Nobel Prizes by 1 million kronor ($90,000) to 11 million kronor ($986,270) because the Swedish foreign money has plummeted lately
ByThe Related Press
September 15, 2023, 4:50 AM
STOCKHOLM — The Nobel Basis mentioned Friday that it’s going to elevate the award quantity for this 12 months’s Nobel Prizes by 1 million kronor ($90,000) to 11 million kronor ($986,270) because the Swedish foreign money has plummeted lately.
“The Basis has chosen to extend the prize quantity as a result of it’s financially viable to take action,” it mentioned in a short assertion.
The speedy depreciation of the Swedish foreign money has pushed it to its lowest stage ever in opposition to the euro and the U.S. greenback. Sweden has been scuffling with excessive inflation — it was 7.5% in August, down from 9.3% in July, removed from the two% goal set by the Riksbank, Sweden’s central financial institution.
When the primary Nobel Prizes have been awarded in 1901, the prize quantity was 150,782 kronor per class, the muse mentioned.
Over the previous 15 years, the quantity has been adjusted a number of instances, it mentioned. In 2012, it was decreased from 10 million kronor to eight million kronor as a broad-based program to strengthen the Nobel Basis’s funds was initiated. In 2017, the prize quantity was elevated from 8 million kronor to 9 million kronor. In 2020, it was raised to 10 million kronor.
This 12 months’s Nobel Prize winners shall be introduced in early October. The laureates are then invited to obtain their awards at prize ceremonies on Dec. 10, the anniversary of award founder Alfred Nobel’s dying in 1896. The celebrated peace prize is handed out in Oslo, in accordance with Nobel’s needs, whereas the opposite award ceremonies are held in Stockholm.
Sweden just isn’t a part of the eurozone. Twenty years in the past, Swedes held a referendum on whether or not to hitch the European foreign money and voted in opposition to it.