Swedish Krona

SEK

  • Convertible: Yes
  • Transferable: Yes
  • Exchange rate regime: Floating
Currency Reference Centre

Available Currency Pairs

EURSEK

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USDSEK

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GBPSEK

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CHFSEK

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AEDSEK

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AUDSEK

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CADSEK

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ILSSEK

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NZDSEK

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PLNSEK

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RONSEK

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SEKCNY

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SEKCZK

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SEKDKK

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SEKHKD

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SEKHUF

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SEKJPY

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SEKMXN

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SEKTHB

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SEKZAR

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SGDSEK

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Transaction Types

FX SPOT
Delivery date: T+1; T+2
Liquidity: high
FX FORWARD
Maximum maturity: 24 months
Liquidity: high

Did You Know?

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Monetary policy

  • RiksBank (RB) is the central bank of Sweden: its function is to ensure non-inflationary growth of the Swedish economy by maintaining price stability.
  • Price setting method: the exchange rate is described as “supervised”. Indeed, if no target price is decided by the RiksBank, it reserves the right to intervene when the evolution of the exchange rate against the major currencies (EUR, USD, etc.) threatens the objective of stability of the price.
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Features and highlights

  • As Sweden is an open and export-driven economy, the currency tends to suffer in times where international free trade is under pressure, as we have seen over the past years with fear of trade wars between the large economic blocks in the world (US, China, Europe, ...)
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Expert opinion

  • Despite the recognised stability of the Swedish economy, the krona has experienced marked cycles of change in the face of the single currency. For example, the EUR/SEK lost nearly 30% between 2009 and 2013 and it has regained almost 18% since.
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Regulations

There are no special restrictions on the purchase and sale of SEK.

Important Information

PAYMENTS IN SEK TO SWEDEN

The IBAN format is mandatory. Payment instructions must contain:

  • The full name of the beneficiary.

Keep In Mind

PUBLIC HOLIDAYS

New Year's Day 1 Jan
Good Friday 30 Mar
Labour Day 1 May
National Day 6 Jun
Christmas Day 25 Dec
Epiphany 6 Jan
Easter Monday 2 Apr
Ascension Day 10 May
Midsummer Eve OBS 22 Jun
Boxing Day 26 Dec

When a holiday falls on a weekend, the next business day becomes a holiday

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Currency Reference Guide

Get the full currency reference guide, updated by the iBanFirst currency market experts

Reference guide