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USD 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.

What influences the USD/SEK exchange rate?

The USD/SEK exchange rate is affected by interest rate announcements made by Sveriges Riksbank and the Federal Reserve as well as commodity prices due to Sweden’s export-oriented economy. With low public debt and rising investment, the Swedish GDP increased by a full 1% at the end of 2016.1


Innovative and productive Sweden-based companies have fueled growth in the international sector.2 Major Swedish companies to watch include AstraZeneca, Electrolux, Ericsson, H&M, IKEA, Skype and Spotify. The USD/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.2


The Swedish krona exchange rate may also see some volatility based on how Brexit unfolds.

USD/SEK Snapshot

“Sweden is highly dependent on exports, is strongly pro-free trade, and has one of the most internationally integrated economies in the world.” – U.S. Department of State3

  • The US is Sweden’s 4th biggest export market, and Sweden is the 11th biggest investor in the United States.3

  • In 2015, Sweden was ranked 22nd in GDP, while the United States ranked 1st.4

  • 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.5

  • In 2014, Sweden was the 31st largest exporter and the 29th largest importer in the world, while the United States was the 2nd biggest exporter and biggest importer.5,6

 

Whether you’re planning on getting married in 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 personalized 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 USD exchange rate analysis. Check out our daily market analysis to learn the factors influencing the SEK to USD exchange rate today.

Sources:

  1. http://www.tradingeconomics.com/sweden/gdp-growth
  2. http://www.mckinsey.com/~/media/mckinsey/global%20themes/europe/growth%20and%20renewal%20in%20the%20swedish%20economy/mgi_swedish_economy_full_report.ashx.
  3. https://www.state.gov/r/pa/ei/bgn/2880.htm
  4. http://databank.worldbank.org/data/download/GDP.pdf
  5. http://atlas.media.mit.edu/en/profile/country/swe/
  6.  http://atlas.media.mit.edu/en/profile/country/usa/
    7.