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The Crown is Strengthened After Interest Rate Announcement

» Updated: 16 July 2024, 14:58

» Published: 07 June 2024

The Crown is Strengthened After Interest Rate Announcement
Photo: Martina Holmberg / TT

Krona's strengthening continues and is now getting extra boost from the European Central Bank's interest rate cut on Thursday.

The euro has become five öre cheaper since Thursday and now costs 11.29 kronor. In a month, it's about a strengthening of 40 öre. A lower ECB rate reduces the pressure on the krona.

Compared to the dollar, the pattern is roughly the same. Since yesterday, the dollar has strengthened 4-5 öre and costs 10.37 kronor on Friday.

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By TTThis article has been altered and translated by Sweden Herald

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