According to the Nobel Foundation, in recent years the value of the Nobel Prize has been continuously adjusted up or down depending on the financial condition of the fund. This year, the Fund decided to increase the prize value due to its positive financial position.
In 2012, the prize value was reduced from 10 million crowns to 8 million crowns because the Nobel Foundation needed to strengthen its finances. Then, the prize value increased to 9 million crowns in 2017 and to 10 million crowns in 2020.
Over the past decade, the Swedish crown has lost 30% of its value against the euro.
In 2013 the value of the prizes for scientific, literary and peace achievements was equal to 1.2 million USD, although the prize value at the time was only 8 million crowns.
According to the plan, the Nobel Prize in Biomedicine will be the first award to be announced on October 2 this year. After that, the winners of the Christmas prizes for physics, chemistry, literature and peace will be named in the following days.
Among the Nobel Prizes, the Physics, Chemistry, Literature and Economics awards are decided by the Royal Swedish Academy of Sciences; The biomedical prize is decided by the Nobel Committee of the Karolinska Institute; And the Peace Prize is decided by the Nobel Committee of the Norwegian Parliament.