The dramatic developments in the Middle East since Saturday are an example of the deteriorating international situation, according to First Deputy Governor of the Swedish Central Bank Aino Bunge.
"It's not something that prompted this particular communication. But it's clear; it shows the concern that exists in the outside world," she tells TT.
One week
One thousand Swedish kronor in cash should cover payments for a week's worth of essential goods. However, the amount may need to be adjusted to the specific needs of different households.
It is a recommendation. It is based on the Swedish Consumer Agency's calculations of how much food people usually consume per month, says Bunge.
A functioning Swish on your mobile phone and payment cards from two different networks are also recommended. However, the Swedish Central Bank has not taken a position on how much of their bank funds households should have access to digitally or with physical card transactions, according to Bunge.
The Swedish Central Bank also wants to see that households use cash at regular intervals to keep the cash system running, but it does not say how often this should be done.
"There are those who use cash daily. I think at least once a month sounds good, but we don't have a specific recommendation," says Bunge.
Have cash
When Russia launched a full-scale invasion of Ukraine in 2022, Swedish households made unusually large cash withdrawals. Surveys show that "just over 40 percent" of households already have at least one thousand Swedish kronor per adult at home.
There is no risk that cash supplies will run out if the remaining almost 60 percent of adults in the country were to replenish their cash, according to Bunge.
We have stocks of cash. It's not like I'm urging everyone to run out now and withdraw cash. This is a preparedness we're going to build over time, she says.
