The Swedish krona loses value – then it can be strengthened again

The Swedish krona has lost a lot against the euro since June – which leads to a more expensive summer holiday for many Swedes who go abroad.
– It will take time to get the krone back to a comfortable euro, says Claes Hemberg, independent economist, in Nyhetsmorgon.

Claes Hemberg says in Nyhetsmorgon that it is a typical economic bottom we are seeing right now.

– It is at its worst after two years of headwinds and we are moving values ​​from the small krona to the large dollar and the large euro. This means that we have an extra weak krona this summer, says Claes Hemberg in Nyhetsmorgon.

This means, among other things, a more expensive holiday for those who go abroad this summer.

– There is a risk that you have bought a plane ticket somewhere, then you arrive and discover that it was much more expensive than you expected. Then you might be able to eat cheaper food, because it is food that is the big expense when you are out and about.

Does it affect the interest rate announcement?

At the same time, it is soon time for the interest rate announcement and the question has been raised as to whether the interest rate can be affected by the weakened krona.

– There has been concern that the krona is messing with the Riksbank. At the same time, the Riksbank has very clearly said, for the last thirty years, that they have no responsibility for the currency.

– In this way, we hope that the Riksbank will also stick to that idea in August and September and, on the contrary, may even lower it twice.

Then it turns around

But when will it turn around? It will be better next summer, says Claes Hemberg, and even better the summer after.

– When the economy is strengthened, then we also get a stronger currency. That’s how the Swedish krona works. During the fall and next spring, we will have a significantly stronger economy, most forecasts point to that. Then the krona will also be strengthened.

When should you plan your next trip abroad?

– Now the euro is at eleven. It has been at nine and eight kroner before, but it will probably take several years to get there again. But it will be much better next summer and at Easter it will also be better, but this autumn you are out too early.