America ten percent cheaper since January
TT/The Local · 13 Nov 2006, 18:25
Published: 13 Nov 2006 18:25 GMT+01:00
Successive interest rate rises in Sweden, while making life more expensive for people with mortgages, have led the krona to rise significantly since January.
A dollar now costs 7 kronor, 11 percent down on the beginning of the year. Many other currencies have also weakened against the krona. These include the Japanese yen, the Chinese yuan, the Hong Kong dollar and the Indian rupee. All these have fallen by 9-10 percent.
Countries that have now become markedly cheaper for Swedish travellers include Turkey, where the value of the currency has fallen by 16 percent against the krona.
The Swedish currency has strengthened against the South African rand by 20 percent since the beginning of 2006. It has also strengthened somewhat against the Australian and New Zealand dollars.
Changes against other currencies have been less marked. The krona strengthened 3 percent against the euro, and was almost unchanged against the pound.