Sweden

SEK - Swedish Krona
Convertible: Yes - Transferable: Yes - Exchange rate regime: Floating
Sweden

Types of transaction

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

EUR/SEK parity: liquidity schedules (GMT)

EUR/SEK parity: liquidity schedules (GMT)

Did you know?

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.

Features and highlights

  • Riksbank will introduce in 2018 a cryptocurrency called e-krona. This is part of the authorities' desire to reduce the use of cash in the country.

Regulations

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

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.

Payments in SEK to Sweden

  • The IBAN format is mandatory.
  • Payment instructions must contain the full name of the beneficiary.
Public holidays 2018 (subject to change)
New Year's Day 1 January Ascension Day 10 May
Epiphany 6 January National Day 6 June
Good Friday 30 March Midsummer Eve OBS 22 June
Easter Monday 2 April Christmas Day 25 December
Labour Day 1 May Boxing Day 26 December