The Nobel Foundation has decided to raise the award amount for this year’s Nobel Prizes by 1 million kronor ($90,000) to 11 million kronor ($986,270) as the Swedish currency has plummeted recently.

In this Sunday, Dec. 6, 2020, photo provided by Nobel Prize Outreach, Louise Glck stands beside the medal awarded to her for the 2020 Nobel Prize in Literature outside her home in Cambridge, Mass. The pomp and ceremony of the Nobel prize ceremonies were altered this year amid measures to slow the spread of the coronavirus. (Daniel Ebersole/ Nobel Prize Outreach via AP)STOCKHOLM – The pomp and ceremony of the Nobel prize ceremonies have been reined in this year amid measures to slow the spread of the coronavirus. Instead, their achievements will be recognized and rewarded at low-key ceremonies where they live and work in Europe and the United States. A Nobel prize comes with a 10-milion krona ($1.1 million) cash award — to be shared in some cases — diplomas and gold medals.