AUD to SEK Exchange Rate

Ah, Sweden: Home to the world’s first ice hotel, birthplace of IKEA, and a place where saltlakrits (salty licorice) is a popular ice cream flavour.

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What influences the AUD/SEK exchange rate?

The AUD/SEK exchange rate will depend in part on how Sweden tackles upcoming challenges including increased competition from emerging markets, an aging population and declining education system.1


Innovative and productive Sweden-based companies have fueled growth in the international sector.1 Major Swedish companies to watch include AstraZeneca, Electrolux, Ericsson, H&M, IKEA, Skype and Spotify.


The Swedish economy’s performance is influenced heavily by how well the EU economy performs. When there is a boom or a slowdown in Europe, the value of the Swedish krona can be impacted.2

 

The AUD/SEK exchange rate may be affected by changes in Swedish or Australian GDP, consumer sentiment, unemployment figures, and interest rates.2  Both countries have economies that thrive on commodity exports therefore commodity prices can affect the SEK/AUD exchange rate.

AUD/SEK Snapshot

“The bilateral relationship between Australia and Sweden is strong, particularly in the areas of trade and education services.” – Australian Government Department of Foreign Affairs & Trade3

 

  • Imports from Sweden to Australia total A$2,230 million, while exports to Sweden from Australia total A$543 million.4 

  • In 2015, Sweden was ranked 22nd in GDP, while Australia ranked 12th.5

  • Sweden’s top exports include packaged medicaments, refined petroleum, telephones, cars, and vehicle parts. Its top imports include computers, cars, refined petroleum, vehicle parts, and crude petroleum.6

  • In 2014, Sweden was the 31st largest exporter and the 29th largest importer in the world, while Australia was the 21st biggest exporter and 21st biggest importer.6,7

 

Whether you’re planning on travelling Sweden or sending money back home to friends and family, OFX can help you save on your international money transfers. If you need to make a payment to Sweden, use OFX so you don’t get stung by high bank margins and fees. Register today to get access to our low rates and personalised service.

 

Currency Name: Swedish Krona

Currency Code: SEK

Currency Symbol: kr

Central Bank: Sveriges Riksbank

Countries Used In: Sweden

Major Unit: One Krona  

Note Denominations: 20 kr, 50 kr, 100 kr, 200 kr, 500 kr, 1,000 kr

 Coin Denominations: 1 kr, 2 kr, 5 kr, 10 kr

 

SEK to AUD exchange rate analysis. Check out our daily market analysis to learn the factors influencing the SEK to AUD exchange rate today.

 

Sources:

  1. http://www.mckinsey.com/~/media/mckinsey/global%20themes/europe/growth%20and%20renewal%20in%20the%20swedish%20economy/mgi_swedish_economy_full_report.ashx.
  2. https://www.finder.com.au/the-swedish-krona
  3. http://dfat.gov.au/geo/sweden/Pages/sweden-country-brief.aspx
  4. https://www.austrade.gov.au/Australian/Export/Export-markets/Countries/Sweden/Market-profile
  5. http://databank.worldbank.org/data/download/GDP.pdf
  6. http://atlas.media.mit.edu/en/profile/country/swe/
  7.  http://atlas.media.mit.edu/en/profile/country/aus/