The Swedish krona gained today, leading to speculations that the central bank will step in to subdue the rally of the currency that threats growth of consumer prices.
Swedish Krona SEK
Detailed information and fundamental factors
Central Bank: Sveriges Riksbank
Interest Rate: 1.00%
Public Debt to GDP Ratio, 2011: 37.5%
Trade Balance, 2011: $13.3 bln.
Inflation, 2011: 3%
Factors of Weakness
Dependence on the eurozone
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
Krona Gains as Swedish Inflation Accelerates
April 11th, 2013 at 11:35
Swedish Krona
The Swedish krona gained today as consumer price inflation accelerated, beating analysts’ forecasts and improving prospects for the nation’s economy and currency.
Swedish Exporters Complain About Strenght of Krona
February 15th, 2013 at 17:54
Swedish Krona
The Swedish krona fell today as exporters, who are already strained by the financial problems of the European Union, complained about the strength of the currency.
Swedish Krona Rises as Riksbank Does Not Join Currency War
February 13th, 2013 at 15:15
Swedish Krona
The Swedish krona climbed today as the central bank left interest rates unchanged, refraining from easing the monetary policy to subdue the currency’s strength. The krona appreciated after the bank did not give hints that it is going to join the currency war.
Swedish Krona Rises Even After Riksbank Lowers Repo Rate
December 18th, 2012 at 14:20
Swedish Krona
The Swedish krona jumped today even after Sweden’s central bank had cut its target repo rate amid concerns about the financial crisis in Europe. There were speculations that the bank will not decrease interest rate next year, though it is not guaranteed.
Swedish Krona Suffers as CPI Drops & Unemployment Grows
December 13th, 2012 at 20:50
Swedish Krona
The Swedish krona declined today as the unemployment rate climbed and consumer prices declined, fueling speculations that the central bank will lower interest rates next week.
Swedish Krona Rises with Growing GDP
November 29th, 2012 at 12:24
Swedish Krona
The Swedish krona gained today amid the positive sentiment among Forex traders and after the data showed that the nation’s economy expanded in the third quarter of this year, increasing appeal of the Swedish currency.
Swedish Krona Dips as Manufacturing Contracts
November 01st, 2012 at 11:13
Swedish Krona
The Swedish krona declined today as Sweden’s manufacturing index dip further last month as exporters struggled amid the European fiscal crisis. The unfavorable data spurred speculations that economic growth this quarter will be weak.
Riksbank Keeps Repo Rate Stable, Hints on Easing
October 25th, 2012 at 22:37
Swedish Krona
The Sweden krona fell against the US dollar today after the Swedish central bank kept its key repo rate unchanged. The currency weakened against the euro as the accompanying statement hinted that the bank may lower rates in the future.
Swedish Krona Weakens as Consumer Confidence Deteriorates
October 24th, 2012 at 12:09
Swedish Krona
The Swedish krona dropped today as Sweden’s consumer confidence was far worse than expected and data from other European countries suggested that the economy of the eurozone remains fragile.
