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The crown is recovering


The 6th of March this year was the blackest day for the Swedish Crown, this time round. The global financial crisis was at its worst and our currency was affected even more due to Sweden’s largest bank’s loans to the Baltic countries and to Ukraine.

On top of that, investors abandon small currencies in times of crisis in favour of safer ones like the Japanese Yen, Euro, US Dollar and Swiss Franc. On this day a Euro cost SEK 11.90, whilst a dollar could be bought for SEK 9.37! Now the Euro is around SEK 10.60 and a Dollar is SEK 7.40, quite a difference! The Swedish Crown’s recovery is expected to continue and currency analysts expect the Euro to go below the 10 Crown level at the beginning of next year. Those of you counting on cheaper foreign holidays: remember that the expert’s predictions should be taken for what they are, just qualified speculations.

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