20 AUD to SEK - Exchange Rate Overview

Australian Dollar (AUD)

The Australian dollar staged a rapid recovery in April but, according to TD Securities, AUD overpriced and see a drop back to 62cents in the short term.

The Aussie had been savaged in March sliding to US55 cents the lowest since 2003. Growing fears of the coronavirus outbreak moved the market into safer currencies such as the USD and away from AUD, NZD and CAD.

The virus was a double blow to the Aussie after the earlier threat of proxy war between the US and Iran in Iraq had also pared back some of the gains the Aussie had made coming into the New Year.

The Australian dollar had started the new decade strongly climbing to multi-month highs helped along by cooling trade tensions between the United States and China and optimism for global economic growth in the year ahead.

The Aussie broke back over US70 cents on the final day of 2019 — a level not seen since mid year. During December the Australian dollar reversed direction (again) and climbed steadily back up against the US dollar on the back of the strength of the housing market and a market perception that further interest rate cuts were less likely.

Read more in the article AUD Forecasts.

Swedish Krona (SEK)

It’s been a grim 16 months for the Swedish krona. In October hitting a record low of 9.90 per USD and falling to its weakest level against the euro since the wake of the financial crisis as global trade tensions continued to take a toll.

2019 weakness has confounded forecasters, who predicted at the start of the year a much stronger currency based on expectations for higher interest rates in Sweden. With economic conditions changing for the worse, markets have now completely priced out any rate hike in 2019, spurring krona weakness.

Danske Bank said in May that “EUR/SEK is somewhat overbought … however, we believe there is a clear risk that Swedish growth and inflation will undershoot the Riksbank’s forecasts … and that monetary policy will have to remain accommodative for the foreseeable future.” As a result, Danske raised its 12-month EUR/SEK forecast to 11.00 to reflect its more bearish krona outlook.

What is a good AUD to SEK exchange rate?

This is a difficult question and the answer really depends on many factors. The best way to consider an exchange rate's relative value is to look at the rate's history.

The following table looks at the change in the AUD to SEK exchange rate over periods upto 10 years.