The Swedish currency has been on a roll in recent years. When interest rates rose, inflation took its toll and the recession lay like a storm blanket over the horizon in all directions, it was no fun being a Swedish tourist in either Europe or the US.
Worst ever
Swedish kronor was at the worst levels ever against both the euro and the US dollar.
It didn’t get any more fun after the Riksbank lowered the policy rate at May’s monetary policy meeting.
But lately there has been a different sound in the barking.
Stronger and stronger
On April 30, the euro cost SEK 11.75 against the euro, almost two weeks before the Riksbank’s announcement. And despite the hiccup on May 8, the krone has gradually strengthened during May.
On Wednesday, the euro cost only SEK 11.32 on the foreign exchange market, writes Today’s industry.
After the ECB’s interest rate announcement, which Nyheter24 wrote about earlier, the strengthening of the krona continued, the newspaper writes.
The dollar is also getting cheaper
On Friday morning at 10 o’clock, one euro cost 11.29 kroner and one dollar 10.37 kroner, both a few cents cheaper than on Thursday.
Nyheter24 has previously written about the krona having good conditions for strengthening ahead of the summer holidays.
Read more about finance:
Foreign currencies cost the shirt – wait to change
This is how much you pay in tax – from municipality to municipality
Only a few avoid tax on tips – that’s how high the tax is
Then the tax will be reduced for one million Swedes – are you one of them?