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Swedish Krona Hits 3-Week High Versus Pound, as Riksbank Ends Stimulus

by Peter Lavelle

Welcome to Pure FX's latest update of the Swedish krona to pound interbank exchange rate.

This tells you when it's a favourable time to exchange Swedish krona for pounds, for your money transfer!

The Swedish krona jumps versus sterling! The krona to pound interbank exchange rate has hit 0.0893 today, its highest in 3 weeks, or since November 29th.

The krona has risen against the pound, because Sweden's central bank, the Riksbank, announced today that it will end its monetary stimulus, called 'quantitative easing' (QE), this month.

In particular, the Riksbank said that it would stop buying Swedish government bonds, a move known as 'QE', intended to lift inflation, at the end of December, thereby lifting the krona.

This has boosted the krona, as the Riksbank's decision to end QE is considered a 1st move for Sweden's central bank to lift interest rates, above their current all-time low of -0.5%.

According to BNP Paribas’s Michael Sneyd, the Riksbank's ending QE is a 'very gradual form of tapering' toward higher interest rates, thus raising up the Swedish krona.

The Swedish krona will strengthen further if the Riksbank raises interest rates, as this will make investing in Sweden's economy more profitable for international money managers.

As a result, the Swedish krona to pound interbank exchange rate has reached this 3-week high today!

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Please bear in mind, this article is Pure FX’s opinion only and does not constitute advice. Moreover, the exchange rates referred to in this article are the interbank rates, which are the rates at which banks and financial institutions buy and sell currency to each other. Therefore these exchange rates cannot be accessed by individuals or SMEs, and are not the same rates that Pure FX can offer. To get a free exchange rate quote, call us on +44 (0) 1494 671800, or email peter.lavelle@purefx.co.uk.

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