Bob Dylan wins Nobel Prize for Literature

U.S. musician Bob Dylan performs during on day 2 of The Hop Festival in Paddock Wood, Kent on June 30th 2012.  [Photo/Agencies]

STOCKHOLM - Bob Dylan has won the Nobel Prize for Literature "for having created new poetic expressions within the great American song tradition," the Swedish Academy said on Thursday in awarding the 8 million Swedish crown ($927,740) prize.

Literature was the last of this year's Nobel prizes to be awarded. The prize is named after dynamite inventor Alfred Nobel and has been awarded since 1901 for achievements in science, literature and peace in accordance with his will.

($1 = 8.6231 Swedish crowns)