TRY/SEK - Live Converters & Chart

Turkish Lira (TRY) outlook

In the second half of April, the lira slipped to its weakest level in 6 months against the dollar, at ₺5.83. It was 11.5 percent lower than its strongest level from January, but was 21.5 percent higher than its 2018 low (2018 was a crisis year for the lira).

In April, Turkey described a reform package aimed at lifting the economy out of recession. The package included billions injected into banks, reduced tax exemptions, lower corporate tax rates and a crackdown on the shadow economy; however, ratings agencies did not see many positives in the plans due to inadequate details.

TradingEconomics.com sees the lira quoted 5 percent weaker against the dollar in April 2020, at ₺6.14.

Swedish Krona (SEK) outlook

2019 has been something of a shocker for the Swedish krona. The currency is the worst performing major currency by some margin, confounding the forecasts of analysts which suggested it would be among the best now that Sweden’s central bank has commenced with a policy tightening cycle (in December it hiked interest rates for the first time in seven years).

Between January and March-8, the krona lost 7 percent of its value against the dollar and slipped to a record low of kr9.5; it also lost 5 percent against the euro, to kr10.65—a six-month low. The krona weakened along with expectations for future Riksbank hikes, which themselves were dented as evidence of a global economic slowdown piled up.

Fortunately for those holding krona, in the week leading up to this report (March-17), the krona was especially strong, making back roughly 40 percent of the aforementioned losses. The rally was driven by speculation that the Riksbank would intervene in the market to strengthen the currency.

“We reiterate our bearish view on the krona,” ING said in February, and “we don't rule out a [EUR/SEK] convergence towards 11.00”—that’s a rate not seen in a decade.

The TRY/SEK mid-rate is the rate you will see quoted online or the news, nobody except the largest banks and businesses can get exchange rates close to this mid-rate. It is actually just the theoretical half-way point (hence mid-rate) between the last rate at which the TRY / SEK was traded (bought or sold) in the international markets.