AUD to SEK Exchange Rate

The lowdown on the Swedish Krona

Economical Influences and the Swedish Krona

If you are considering converting AUD to SEK, it is good to get a snapshot on how the economy may influence the Swedish exchange rate.

The Swedish Krona is the 9th most traded currency in the world. Sweden’s economy, although small, is a competitive open market, with the country offering a high standard of living that is supported by free-market capitalism and extensive welfare benefits. Wage and price growth have only slightly increased over the past few years, helping to keep Sweden’s economy competitive. Sweden currently has an account surplus of around 5% of GDP, one of the highest margins in Europe. Between 2016 and 2017, Sweden’s GDP grew by around 3.3%, largely due to investment in construction.¹

Swedish Krona Historical Exchange Rate

Sweden has had a floating exchange rate since 1992 - which means the price is set by the foreign exchange market dependant on supply and demand of a currency.

Because of this system the value of the SEK fluctuates in relation to other currencies.²

For most of 2016, the AUD to SEK exchange rate sat around 1 AUD to 6 to 6.5 SEK, rising to a peak of 6.95928 SEK in February 2017. Recent exchange rates as of 21^st August 2018 saw the AUD to SEK peak in favour of the AUD with an exchange rate of 1 Australian dollar to 6.72501 Swedish krona.³

Learn more about the Swedish krona before you travel to Turkey and create a currency rate alert so we can notify you when it hits your ideal exchange rate.

^Sources:

<sup>1. Central Intelligence Agency - https://www.cia.gov/library/publications/the-world-factbook/geos/sw.html
2. Finder - https://www.finder.com.au/the-swedish-krona
3. XE - https://www.xe.com/currencycharts/?from=AUD&to=SEK&view=5Y. Current exchange rates as of 21 August 2018. Based on mid-market rates.</sup>

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