On Tuesday morning, one dollar cost just 9 kronor and 49 öre, just shy of this year's record of 9.45 kronor set on June 12th, which was the lowest rate seen since April 2022.
This is partly due to higher than expected inflation figures for June, which Statistics Sweden released on Monday. Those figures have created uncertainty around further cuts to the key interest rate, which analysts had previously predicted could take place as early as August this year.
Since those figures were released, the krona has risen by around 8 öre against the dollar, or around 10 öre against the euro.
There's still a while to go before the krona nears its record for this year so far against the euro. On Tuesday morning one euro cost 11.16 kronor, while the record from April 2nd this year was 10.75 kronor.
A stronger krona is good news for people paid in kronor who have expenses abroad, whether that's temporary expenses like holidays or overseas travel, or more permanent expenses like property or loans back home. Conversely, it's bad news if you're paid in another currency, like euros or dollars, but have most of your expenses in Sweden.
In terms of the Swedish economy, a stronger krona lowers the risk that foreign imports could fire up Swedish inflation, while also making Swedish exporters less competitive abroad.
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