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 21st 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
Exchange rates last updated Monday, 24 September 2018 9:59:55 AM AEST. The online exchange rates provided by this Currency Converter are intended as a guide only and should not be used for transactional purposes. All rates are subject to change from time to time without notice. Exchange rates used in-store may differ from those offered online. The Travelex online buy rate will be used for conversions from a foreign currency to the local currency. The Travelex online sell rate will be used for conversions from the local currency to a foreign currency.
Historical Rates for conversion of [FromCurrencyIso] to [ToCurrencyIso]: Last month
Historical Rates for conversion of [FromCurrencyIso] to [ToCurrencyIso]: 3 months
Historical Rates for conversion of [FromCurrencyIso] to [ToCurrencyIso]: 6 months
Historical Rates for conversion of [FromCurrencyIso] to [ToCurrencyIso]: 12 months
How to see historical rates
If you would like to see historal rates, please select one of the currencies
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.
*The information contained in this article has been compiled by Travelex from different external sources. The figures provided are indicative only and are there to provide an idea of the amount of travel money you may need during your trip. Travelex does not ensure the accuracy and completeness of the information shown. Nothing in this article is to be considered financial advice. Travelex Limited does not accept any liability for any loss or damage derived from any reliance on the information in this article. Travelex Limited (ABN 36 004 179 953, AFSL Number 222444) arranges for and sells Online Foreign Currency via its Online Ordering Facility. You should consider the Online Foreign Currency Product Disclosure Statement and Terms and Conditions before deciding whether to acquire the product.