The Nobel Prize in Physiology or Medicine, the first of the 2023 awards, will be announced on October 2nd, followed by the announcements for Physics, Chemistry, Literature, and Peace in the days to come.
In a significant move, the Nobel Foundation has announced an increase in the monetary prize for this year's Nobel laureates. According to the Foundation's statement, each Nobel Prize winner will receive an additional 1 million Swedish crowns, bringing the total prize to 11 million Swedish crowns, or about $986,000 (8.1 crore rupees).
There have been several changes to the prize money over the years, and this year the organizers decided to increase the amount to reflect the Foundation’s improved financial situation. The prize money was initially reduced from CZK 10 million in 2012 to CZK 8 million in 2017 and then increased again to CZK 9 million in 2020 before returning to pre-2012 levels.
Over the last decade, the Swedish krona has depreciated by around 30% against the Euro. So, the recent increase in the value of the Nobel Prize probably won't help the financial situation of Nobel Prize winners living abroad. In 2013, the Nobel Prizes, which have been giving out awards for science, literature and peace since 1901, were worth around $1.2 million, although the amount in Swedish krona dropped to $8 million.
The Nobel Prize in Physics or Medicine, the inaugural honours of 2023, will be announced on October 2, followed by the Nobel Prizes in Physics and Chemistry, and the Nobel Prize in Literature and Peace in the coming days. These announcements are sure to captivate a global audience, as people from all over the world look forward to hearing about and celebrating the incredible achievements of people from all walks of life.
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