Foreign Exchange Guide to Sweden
In this guide we review :
- Buying Swedish Krona Cash Online - Travel money for Sweden
- Swedish Krona (SEK) - Currency Market News
- Sending Money to Sweden - Save on Swedish Krona bank transfers
- Swedish Krona Exchange Rates - Latest info & charts.
Travel Money for Sweden - Swedish Krona (SEK)
Save money and time by Ordering your Swedish Krona Online from Travelex, you get better rates and can pick up the SEK cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in Swedish Krona otherwise you may get much worst exchange rates.
Swedish Krona (SEK) - Currency Market News
What a year it has been for the krona.
In the final week of August, the krona was the best performing G10 currency of 2017, being the only other G10 currency to gain against the euro (gain of +0.9%). On August 25th, SEK/EUR rates were slightly above 0.105 (EUR/SEK 9.5). Against the troubled US dollar, the krona was up an impressive 13.3% on the year at rates above 0.124 (USD/SEK 8.036).
TD Securities had it right when they said in February that the Swedish krona was “a core component of [TD's] FX outlook for 2017.” Their strategists correctly predicted at the time that the Swedish economy would remain on a solid footing and that inflation would rise.
The good news for those in Sweden is that it seems that the krona isn’t done yet.
On August 21st, Dutch bank ABN Amro said that the krona would appreciate against the euro to 0.114 (EUR/SEK 8.75) by the end of H1 2018.
In September, against the US dollar, ABN forecast the krona would climb 19% from rates at the time to 0.1485 (USD/SEK 6.73) by the end of 2018.
As their reasons for krona appreciation, ABN have cited a robust Swedish economy, above-2% inflation and an improvement in global trade; all of which are likely to force the Riksbank to normalise monetary policy after years of low interest rates and quantitative easing.
Sending Money to Sweden
When sending money to Sweden it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 3 simple steps :
- Open an account with a provider (id docs may be required)
- You specify the local or Swedish Krona amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted SEK amount will be transfered to the recipient account you specify in Sweden.
You can save around 5% and maybe more - end result is more Swedish Krona deposited into the recipient bank account in Sweden and less margins and fees kept by the banks!Compare Transfer Exchange Rates to Sweden