The Rigsdaler was used as the main form of currency in Norway until 1816. During this time, Danish currency also circulated in Norway, as the two countries were in a political union. In 1816, the modern central bank of Norway, Norges Bank, was established and the monetary unit was changed to Speciedaler. The currency got devalued in 1830 and was then pegged to silver on a fixed basis. In 1875, Norway joined the Scandinavian Monetary Union (SMU) and adopted the Krone as its official currency. The union lasted until 1914, though all the countries kept their respective currencies afterwards. The Norwegian Krone moved on and off of a gold standard and was also pegged to a number of different currencies at various rates.