The Swedish krona fell today after the national central bank maintained interest rates at a record low, indicating that the Nordic economic will require further stimulus to recover from the current recession.
Riksbank, the national banking institution of Sweden, not only left its benchmark interest rates unchanged but also declared that low levels will remain until next autumn, decreasing attractiveness for the krona since lower interest rates provide less profit opportunities for investors, consequently being the factor behind the krona’s fall today in currency markets.
EUR/SEK closed this Thursday at 10.23 from an opening rate of 10.31.
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