The krone is now at the same level against the dollar and the euro as it was last summer.
In September, when the krone bottomed out, one euro cost upwards of twelve kroner. Now the euro exchange rate is 11:47. At the same time, the krone has strengthened even more against the dollar, by over five percent, or from 11:20 to today’s rate of around 10:56 kroner.
Since the turn of the year, the dollar is now only 1.5 percent more expensive, while the euro is still quoted three percent higher against the Swedish krona.
The rise in the krone is above all connected to falling inflation in general and in the US in particular, which means that the US central bank is not expected to raise the policy rate any further.