The Norwegian Krone drifted lower against the U.S. dollar in early European deals on Thursday, after Norway's central bank kept its key interest rate unchanged and hinted that the rates will remain at the current level in the period ahead.

The Executive Board of the Norges Bank kept its policy rate at 0.50 percent as economists had forecast.

"Monetary policy is expansionary and supportive of structural adjustments in the Norwegian economy," Governor Øystein Olsen, said.

The Norwegian Krone dropped to 8.5550 against the greenback, off its early 8-day high of 8.4718. The Norwegian currency is likely to find support around the 8.6 region.

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