(edit title) SEK seems to be tanking Versus euro, dollar, pound... Options

[jackityjack]

seems every time i check the exchange rate these past months our swedish money is worth less and less...

[skogsbo]

I wouldn't worry too much until the Euro crashes, then it's new territority for all European currencies. It hasn't moved more than 10% against the £, this is the first time it's been above 11kr for years, or at least it feels that way. It spent a long time a few years ago at the 12 / 13kr mark, which was great when I wasn't living permanently in Sweden, now it would be better if it dropped back a little nearer 10kr.

[Real Scotsman]

the euro situation is killing a lot of currencies, i need to send money back to the UK, but its dropped over 10% recently.
great if i was to be bringing the cash over here £ to SEK or € but not good the other way round

[byke]

I have noticed the Kronor is loosing its value at a fast rate.

I remember reading speculation by Swedes on this forum last year how the pound was doomed and would be dropping and the british pound would never rise again.

#irony #chiponshoulder #wishihadchangedupmorecashtopoundslastyear

 

 

[Essingen]

Same story...in times of crisis the dollar strengthens as it is perceived as a safe haven. The pound is also perceived in this way at the moment. So it isn't so much that the krona is falling but that these currencies are rising. Not sure it will last though.

[byke]

The big fear is if the Greeks pull out, it could lead to Spanish savers emptying their bank accounts and exchanging their savings to another currency and keeping them outside of Spain intern leading to a collapse of the Spanish banks (putting the euro collective in a very dangerous place).

Then the big question is what currency .... The Dollar has had a hard time for the past few years.
So many could be looking to the pound as a safer bet. Based on its value and past history.

Many Greeks took their cash out of the country at the start of the crisis, investing into London.
So it wouldn't surprise me if other desperate savers do the same thing which I doubt would see a lowering of the pound value.

[Essingen]

I think we are now in a situation where...like the catch phrase in a kids TV programme I used to watch about 40 years ago..."anything can happen in the next half hour".

[byke]

I was going to exchange all my cash into shell money.
But with the way the way the economy is changing, fear it could be washed up.

[Bender B Rodriquez]

The SEK is at least 25% higher than it should be.

[Snood]

Damn it, When I moved here from the UK last summer, the pound was very weak against the pound. now i'm working and need to send money back to the UK for student loan repayments and it goes the other way. typical!

It looks like the value of my swedish salary, in the UK has dropped by almost £3000 since I started my job in December. Of course this makes little difference to my daily living. I will need to continue to re-assess what value there might be in continuing to buy from the UK on Amazon etc, I guess I'll still be better off even if it rises back to 12SEK to the Pound.

[Puffin]

I guess it's all relative - a few years ago (just before the crash) ir was over 14SEK to £1 - now it is just over 11

[PDX]

The SEK is at least 25% higher than it should be.

Right, everyone speaking about weakness of SEK has got it totally backwards. SEK is close to all-time high vs EUR (within a couple percent or so). The fact that it is losing vs GBP and USD is that those currencies appreciate even stronger vs EUR.

SEK assets are losing value in terms of GBP but to translate it to "SEK tanking" is a bit too far-fetched

~~~PDX~~~

[byke]

But the euro is dirt right now.
What's the point in having an independent currency if it should be treated on par with that of a currency that could be worthless ?

[redblue]

The Swedish economy is very open and export driven (GDP >50% exports). Hence, the value of its currency is positively correlated to growth of the world economy. Moreover, in times of economic turmoil money flows to more liquid currencies, such as USD, which is very good for Swedish exports.

The Kingdom of Sweden is in a very good shape (AAA) and can thus borrow with very good terms. E.g. last Friday the Kingdom of Sweden issued 2.25 billion dollar (about SEK 15.5 billion) in a new three-year benchmark bond to the Riksbank. The yield was the lowest syndicated three year dollar deal this year.

[uduck]

I have noticed the Kronor is loosing its value at a fast rate.I remember reading speculation by Swedes on this forum last year how the pound was doomed and would be dropping a ... (show full quote)

I have noticed the Kronor is loosing its value at a fast rate.

I remember reading speculation by Swedes on this forum last year how the pound was doomed and would be dropping and the british pound would never rise again.
... (hide full quote)

UK will definitely rise again .. it's the United Kingdom of the Great Britain and NI after all .. probably rising easier than Eurozone countries.

The big fear is if the Greeks pull out, it could lead to Spanish savers emptying their bank accounts and exchanging their savings to another currency and keeping them outside ... (show full quote)

The big fear is if the Greeks pull out, it could lead to Spanish savers emptying their bank accounts and exchanging their savings to another currency and keeping them outside of Spain intern leading to a collapse of the Spanish banks (putting the euro collective in a very dangerous place).

Then the big question is what currency ... The Dollar has had a hard time for the past few years.
So many could be looking to the pound as a safer bet. Based on its value and past history.

Many Greeks took their cash out of the country at the start of the crisis, investing into London.
So it wouldn't surprise me if other desperate savers do the same thing which I doubt would see a lowering of the pound value. ... (hide full quote)

Well, there's always Swiss Francs to be considered...