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.
“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
OFX fees not included in the conversion amounts shown above.
*Occasionally, third-party banks may deduct a fee from your transfer before paying your recipient. This fee may vary and OFX receives no portion of it.
CCY Worldwide Delivery Times
Some destinations for this currency include:
*Delivery times are indicative and measured in business days from the time your funds are received by OFX.