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Pound below SEK 11

Last one out of the UK turn the lights off please

HALE
post 27.Feb.2010, 10:12 AM
Post #31
Joined: 7.Oct.2006

I want the kr to go up and the Aussie dollar to go down. The Aussie dollar is way strong right now and the kr is gaining ground.
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mkvgtired
post 27.Feb.2010, 07:44 PM
Post #32
Joined: 23.Apr.2009

QUOTE (wendist @ 27.Feb.2010, 08:31 AM) *
As I understand it Sweden can´t devaluate anything. The value of the swedish krona is set by the markets and some of the biggest financial players are based in London.So it r ... (show full quote)

Sweden would devalue its krona by increasing the money stock, i.e. "printing" money. Right now this is a slippery slope considering how reactive the markets are. Because of this it would be hard to gauge how the market would react to an increase. It might be better to let the UK figure that out while Sweden sits on the sidelines.

QUOTE (Brtahan @ 27.Feb.2010, 08:55 AM) *
I hope even one day kronor becomes even higher then euro and pounds and specialy dollars , because its the cause of world crisis , even that USA is making lots of profit just ... (show full quote)

This is not entirely true. This tactic was used in post WWII Europe, but has been 100% eliminated in Europe with the Euro. Even before the Euro, in the developing world this was not very common. This tactic is mostly used in the developing world for simplicity. The fact is the Kenyan Shilling and the Yemeni Rial are not traded on most global markets, so no exchange rate is set (with the exception of local traders). Therefore both currencies' dollar exchange rate is used to set their value, regardless of if dollars are ever exchanged or not. Also, many wealthier nations are reluctant to accept third world currencies when trading because many of the leaders use the central banks as their own personal piggy banks. So the contracts are priced in Dollars, Euros, Pounds, or sometimes Yen. Third world countries are happy about this because it enables them to do business they would otherwise not be able to do. Business that raises the standard of living for the citizens.
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wendist
post 27.Feb.2010, 11:44 PM
Post #33
Joined: 14.Feb.2010

QUOTE (mkvgtired @ 27.Feb.2010, 07:44 PM) *
Sweden would devalue its krona by increasing the money stock, i.e. "printing" money. Right now this is a slippery slope considering how reactive the markets are. Bec ... (show full quote)

That´s true and i for one hope they have the courage to sit tight and see how things develop.
My remark was more about the present situation compared to the 70s and 80s when the value of the krona was set by political decree and then a price had to be paid in increased interest rates if they got it wrong.

I belive many swedes still remember Bengt Dennis and his 500% interest rate hike and don´t want those times back.

As for the UK (and the PIIGS) I do hope they manage to sort out their problems not only for their own sake but for swedens as well. We need solvent trading partners. biggrin.gif

It´s no fun to be able to say “I told you so” if you are sitting on the deck of the Titanic dry.gif
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Essingen
post 27.Jan.2013, 06:34 PM
Post #34
Joined: 2.Nov.2008

Time to update the thread I started just less than 2 years ago when GBP dropped below 11. Why? Because experts are now talking about a further depreciation of up to 20 per cent during 2013. We are already around 10.20. Last month, David Bloom, HSBC's head of foreign exchange strategy, described sterling as "the ugliest out of the three ugly sisters" – her siblings being the dollar and the euro.

So it looks bad for anyone living in Sweden and being paid in GBP, but good for the rest of us with our M&S buying and planned UK holidays.

Interestingly, I read in the FT that with all the talk about a race towards devaluations, one forgets that the two countries that have devalued most in recent years are South Korea (19%) and the UK (17%). Hasn't done the latter much good so far, has it?
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Bender B Rodriquez
post 27.Jan.2013, 07:56 PM
Post #35
Joined: 25.Mar.2006

I'm eagerly awaiting this so called Swedish crisis but so far the USD has only been going downhill...
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Localer
post 29.Jan.2013, 08:56 PM
Post #36
Location: Stockholm
Joined: 27.Oct.2006

1 gbp = 10.03 sek ;D
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Essingen
post 1.Feb.2013, 10:27 AM
Post #37
Joined: 2.Nov.2008

Well there we go then...GBP = SEK 9.99 this morning...first time for many years...
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skogsbo
post 1.Feb.2013, 10:32 AM
Post #38
Joined: 20.Sep.2011

Good , my sambo is back to the UK for a friends birthday next week, hope she didn't pre pay the hotel!
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Hisingen
post 2.Feb.2013, 02:02 AM
Post #39
Location: Västra Götaland
Joined: 5.Jul.2012

Currency rates are often like a yo-yo. Back in 1960 the rate was 14,50 to £1. Then in the early 70's the rate was halved. Over the years there have been good and bad years, but I doubt we shall see the 14,50 again. However one can never tell.
McBrun didn't help matters by sellng off our gold reserves when the price was also rcok bottom. Takes a lot of building back up again when the cupboard is empty,
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Hede
post 2.Feb.2013, 11:07 PM
Post #40
Location: United Kingdom
Joined: 29.Nov.2012

I remember when it was 15 kr but sadly its 10 kr now or even less sometimes .
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Hede
post 2.Feb.2013, 11:08 PM
Post #41
Location: United Kingdom
Joined: 29.Nov.2012

QUOTE (Hisingen @ 2.Feb.2013, 02:02 AM) *
Currency rates are often like a yo-yo. Back in 1960 the rate was 14,50 to £1. Then in the early 70's the rate was halved. Over the years there have been good and bad year ... (show full quote)

even in 2005 or 2006 it was still around 15kr
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byke
post 10.Feb.2013, 12:17 PM
Post #42
Location: Europe
Joined: 28.Oct.2008

Well the kronor has fallen in value against the pound again.

http://www.xe.com/currencycharts/?from=SEK...GBP&view=1M
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skogsbo
post 10.Feb.2013, 02:03 PM
Post #43
Joined: 20.Sep.2011

the pound is hardly roaring away! 10.18-ish, so it's gained about 3 or 4%.
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byke
post 10.Feb.2013, 02:04 PM
Post #44
Location: Europe
Joined: 28.Oct.2008

Its not what the pound has done, but more so that the kronor has also started to fall.
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Kalyissa
post 10.Feb.2013, 02:06 PM
Post #45
Location: Malmö
Joined: 19.Jul.2007

I really want the Swedish Kr to fall somewhat in value against the danish kr :x I want more money from my salary!
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