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Nobel Prizes: The prize money is approaching 1 million dollars this year

This year’s Nobel Prizes will be accompanied by higher prize money, increased by 1 million kroner, bringing the total to 11 million Swedish kroner ($986,000), the Nobel Foundation announced today. The prize money has fluctuated in recent years, and those responsible for awarding it said the amount is being increased this year to reflect the Foundation’s strong financial position.

In 2012, the prize money was reduced from 10 million kroner to 8 million as the Foundation tried to clean up its finances. The amount increased to 9 million in 2017 and in 2020 to 10 million. –level it was at before 2012. Over the past decade, however, the Swedish krona has lost about 30% of its value against the euro, which means that the latest increase in the value of the prize will not make Nobel laureates outside Sweden particularly richer.

In 2013, the monetary value of the prizes accompanying the awards for the achievements in science, literature and peace – first awarded in 1901 – amounted to about 1.2 million dollars, despite the reduction of the amount in Swedish currency to 8 million kroner. The Nobel Prize in Medicine is the first for this year and will be announced on October 2. Prizes for Physics, Chemistry, Literature and Peace will follow in the next few days.

Source: News Beast

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