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Swedish Krona SEK

 

Detailed information and fundamental factors

Central Bank: Sveriges Riksbank

Public Debt to GDP Ratio, 2016: 31%

Trade Balance, 2016: $12.4 bln.

Inflation, 2016: 1%

Sovereign Credit Ratings:

Fitch
AAA
Stable
Moody's
Aaa
Stable
S&P
AAA
Stable

Factors of Weakness

Dependence on the eurozone

Negative interest rates

weak

The Swedish krona is the currency used in Sweden. It was introduced in 1873 when the Scandinavian Monetary Union was formed. The Union was dissolved after the World War I has started in 1914. Sweden, Denmark and Norway decided to retain their currencies, though they were no longer pegged to gold. Sweden introduced a managed float regime in 1992. The country planned to join the eurozone, but a referendum showed that the majority of Swedes were against the introduction of the euro.



Swedish Krona News Archive

Swedish Krona Falls as Riksbank Doesn’t Plan Raising Interest Rates

The Swedish krona fell today as the nation’s central bank showed no signs of planning to raise interest rates in the near future. That is despite strong economic growth that pushed inflation close to the bank’s target of 2%.

Swedish Krona Stable After Drop on Riksbank Statement

The Swedish krona was stable during the early Wednesday’s session after falling during the Tuesday’s session. The drop was caused by somewhat dovish policy statement from Sweden’s central bank.

Swedish Krona Climbs as Analysts Don’t Expect Additional Stimulus

The Swedish krona climbed against the US dollar and the euro after the Sweden’s central bank policy meeting even though the bank kept interest rates negative and extended the asset purchase program by six months.

Swedish Krona Sinks as Riksbank Signals About Possible Easing

The Swedish krona fell today after the nation’s central bank signaled that it is ready to cut interest rates deeper into the negative territory and expand its quantitative easing program.

Riksbank Cuts Rates, Krona Mixed at Start of Friday’s Trading

The Swedish krona sank yesterday following the bigger-than-expected interest rate cut from the central bank of Sweden. Today, the currency continued to move lower versus the US dollar but rose a bit against the euro.

Swedish Krona Dips After Riksbank Announcement, Bounces Later

Sweden’s central bank decided at today’s meeting to leave its interest rates unchanged but to expand the size of the asset purchase program. The Swedish krona dipped initially after the announcement but bounced as of now.

Swedish Krona Bounces After Thursday’ s Drop

The Swedish krona bounced today following yesterday’s drop by 1 percent. The decline followed the surprise decision of the nation’s central bank to cut its repo rate even deeper into negative territory.

Sweden Joins ‘Negative Interest Rates Club’

The Swedish krona dropped against the US dollar today after the nation’s central bank joined some other central banks of Europe (including the European Central Bank and the Swiss National Bank) in implementing negative interest rates. The krona attempted to stay flat against the euro but fell as well recently.

Riksbank Slashes Repo Rate to Zero, Krona Slumps

The Swedish krona dropped today after Sweden’s central bank decided to reduce its main repo rate to the absolute minimum in an effort to spur inflation that was below the bank’s target for a long time.

Swedish Krona Drops as Deflation Worsens

The Swedish krona dropped today as data revealed that deflation worsened last month in Sweden, increasing probability of monetary easing from the nation’s central bank.

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