(edit title) Pound below SEK 11 Last one out of the UK turn the lights off please Options

[HALE]

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.

[mkvgtired]

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 re ... (show full quote)

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 really is all your own fault. ... (hide 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.

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)

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 from exchanges , if you want to buy anything its converted to US and then converted to the local currency. Why countries are happy with this i dont knw , adopt euro as the trading currency and see how dollar will become like zimbabwe dollar worthless. So that means other countries all over the world are paying america indirectly for nothing. ... (hide 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.

[wendist]

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)

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. ... (hide 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.

It´s no fun to be able to say “I told you so” if you are sitting on the deck of the Titanic

[Essingen]

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?

[Bender B Rodriquez]

I'm eagerly awaiting this so called Swedish crisis but so far the USD has only been going downhill...

[Localer]

1 gbp = 10.03 sek ;D

[Essingen]

Well there we go then...GBP = SEK 9.99 this morning...first time for many years...

[skogsbo]

Good , my sambo is back to the UK for a friends birthday next week, hope she didn't pre pay the hotel!

[Hisingen]

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,

[Hede]

I remember when it was 15 kr but sadly its 10 kr now or even less sometimes .

[Hede]

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 ... (show full quote)

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, ... (hide full quote)

even in 2005 or 2006 it was still around 15kr

[byke]

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

http://www.xe.com/currencycharts/?from=SEK...GBP&view=1M

[skogsbo]

the pound is hardly roaring away! 10.18-ish, so it's gained about 3 or 4%.

[byke]

Its not what the pound has done, but more so that the kronor has also started to fall.

[Kalyissa]

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