SGD to SEK Exchange Rate

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

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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/