When you are thinking about sending money abroad, an international money transfer provider is a great option. They can help you with the whole process, provide useful online tools and most importantly bank-beating exchange rates and low or zero fees.
This is the current USD-SEK mid-market exchange rate. The Total Cost of each foreign transfer in the above table is calculated as the sum of all fees and the exchange rate margin, which is the difference between the provider's exchange rate and the mid-market USD-SEK exchange rate.
Whenever you are interested in an exchange rate you are actually interested in two currencies due to the fact that the value of a currency must always be quoted in comparison to a second currency.
So it follows that if you are determining the best time to transact, in this case the USD vs SEK, you should pay attention to both United States Dollar and Swedish Krona news and forecasts.
26-January-19: 2018 was a reasonable year for the dollar. Measured by the US Dollar Index, the greenback appreciated by 4 percent, which was much better than 2017’s 10 percent loss. It was, though, something of a stuttering end to 2018 and the dollar has had mixed fortunes in early 2019.
In December, after lifting US interest rates to 2.25-2.5 percent, the Fed lowered its expectations for future hikes due to so-called “cross currents” (China, Brexit, trade wars etc.). Skepticism among analysts over future Fed hikes has for some time been the main reason for dollar pessimism for 2019, but now, there is also the prospect of a US economic slowdown to contend with.
“A slowdown in the economy is likely to weigh on USD particularly in the second half of this year,” a CIBC researcher said in January.
Of the same opinion was an expert at ING, who argued that the dollar is soon to “embark on a gradual long-term bearish trend.”
January’s extended US government shutdown also has dollar-negative ramifications. Not only is the shutdown likely to hit first-quarter GDP growth, disagreements within Congress bode poorly for the future of potentially inflationary fiscal spending.
13-January-19: In 2018, the Swedish krona was extremely weak for the first 8 months of the year, during which it lost 10 percent of its value relative to the dollar and 4.5 percent versus the euro. The currency stabilized between September and October as the potential for a Riksbank interest rate hike increased. The Riksbank did hike in December (the first since 2011), and by year-end the krona had clawed back some its losses: it ended 2018 worth 7.7 percent less against the dollar than 12 months earlier, at kr8.875 per USD, and worth 3.3 percent less against the euro, at kr10.155 per EUR.
For 2019, forecasters at Lloyds have predicted krona appreciation of 7 percent against the euro, to an exchange rate of kr9.65.
