Compare Quotes To Get The Best SEK Exchange Rates

If you are doing any sort of Swedish Krone (SEK) conversion it pays to compare providers to see who can give you the best Swedish Krone (SEK)exchange rate. High street banks are the worst place to convert money as they generally have poor Swedish Krone (SEK) exchange rates. To get the best rate for large Swedish Krone (SEK) currency transfers, smaller regular money transfers or cash travel money read our guide to the top providers.

Get The Best Swedish Krone (SEK) Exchange Rates With These Currency Providers

Currency BrokerNumber of CurrenciesMin TransferForward ContractsPersonal TransfersBusiness CustomersSame DayCurrency OptionsYear FoundedAnnual TransfersAmount of CustomersGet A Quote
Key Currency42£1,00012 months✔️✔️✔️2015£2bn50,000+Visit Key Currency
OFX55+£25012 months✔️✔️✔️1998£2.4bn1,000,000Visit OFX
Global Reach30+£3,00024 months✔️✔️✔️✔️2001£6bn30,000+Visit Global Reach
TorFX40£10024 months✔️✔️✔️2004£7.5bn325,000Visit TorFX
Currencies Direct
40£10012 months✔️✔️✔️1996£7.5bn325,000Visit Currencies Direct

What is the best Swedish Krone (SEK) Exchange Rate?

The current best Swedish Krone (SEK) exchange rate versus other G10 currencies is the mid-market price which is:

Australian Dollar (AUD)0.1423230795
Canadian Dollar (CAD)0.1249071561
European Union Euro (EUR)0.09308052996
Japanese Yen (JPY)13.11887126
New Zealand Dollar (NZD)0.1565384834
Norwegian Krone (NOK)0.9637490463
United Kingdom Pound Sterling (GBP)0.08015082828
Swiss Franc (CHF)0.09317210606
United States Dollar (USD)0.0969825

Swedish Krone (SEK) Exchange Rate Explained?

The Swedish Krona is the official currency of Sweden, with the FX abbreviation of SEK. The currency is one of the scandinavian currencies that includes the Krona, Norwegian Krone, Danish Krone, and Icelandic Krona.

Initially, there were plans for the Swedish Krona to join the Euro, but the electorate refused to vote for the plan. Therefore, the Krona survived as an independent currency. The country, however, joined the EU in 1995.

The central bank of Sweden, known as the Sveriges Riksbank, is the oldest central bank in the world (1668) and controls the monetary policy of Sweden. Like most other currencies, the Krona was initially linked to gold after the war but cut its cord in the seventies. Eventually, Krona moved into a free-floating regime a decade later.

Riksbank’s key policy mandate is price stability. To achieve this target, the bank was forced into negative interest rates, one of the first central bank in the world to do so. But the side effects of that policy was too powerful and they discontinued the experiment after five years. The policy rate (known as the Repo Rate) is currently at zero percent.

What factors affect the Swedish Krone (SEK) exchange rate?

The Swedish Krona is driven by a myriad of macro factors, including the risk sentiment, fundamentals and interest rates.

First, on interest rate. The Riksbank was one of the first central banks to introduce negative interest rate. The reason for doing so then (around 2015) was to pursue a more expansionary policy to reach the 2 percent inflation target. At that time, the US Fed was ending its QE and began to taper off asset purchases. As a result of this polar difference in monetary policies, the USDSEK rate rose rapidly during 2014-15 in favour of the USD (see below). Hence, one of the biggest drivers of exchange rate these days in the relative size of QE programs between two countries.

In fact, USDSEK has continued to trend higher (in favour of USD) as the Swedish Repo rate stayed in negative territory from 2015 to 2020. It was only in 2019 that the Riksbank decided to end the experiment and returned the repo rates back to zero. As soon as this was done, the pandemic hit and the Fed flooded the market with dollars. While the Riksbank also engaged in QE (SEK700billion), it was a small program relative to the Fed. As a result, the USD depreciated against the SEK.

Apart from interest rate and quantitative easing, other factors like housing market, unemployment, GDP and global business conditions – all play a role in moving the SEK. Sometimes, market psychology can move markets. New lows in a currency worth paying attention to because it signals something is badly wrong and the sellers rushing to exit the market. For example, USDSEK touched new lows in 2019 and this continued for almost a year.

Source: Riksbank

Bottom line – The Swedish Krona is one of the popular scandinavian currencies to trade. It is a fairly liquid currency and often produced long-lasting trends. Important rates to watch for are against the USD and the Euro (EURSEK). Relative monetary trends in these regions create conditions in which the Krona fluctuates persistently.

Getting the best Swedish Krone (SEK) Exchange Rate FAQ

When you convert and transfer Swedish Krone (SEK) with a currency broker your fixed exchange should be a maximum of 0.5% from the mid-market for currency transfers. To put this in perspective, banks traditionally charge 3-5% which means that if you are sending £100,000 worth of Swedish Krone (SEK) you could save up to £4,500 with a currency broker versus the banks.

Request a quote to see how much you can save – you’ll find a better Swedish Krone (SEK) exchange rate than by using your bank.

Where to find the best exchange rate for Swedish Krone (SEK)?

Comparison tables and Swedish Krone (SEK) exchange rate quote request forms will help you find the best Swedish Krone (SEK) exchange rate. Swedish Krone (SEK) exchange rate comparison tables highlight the key features of currency transfer providers whereas Swedish Krone (SEK) exchange rate quote request forms will make currency brokers compete for your business by offering the best exchange rate.

A few tips on getting the best Swedish Krone (SEK) exchange rate:

How do I know I am getting the best Swedish Krone (SEK) exchange rate?

Only go with a currency broker that offer fixed and transparent exchange rates and clearly show fees. All fees and charges should be built into the exchange rate. Have a look around currency providers’ websites, and if you find that they don’t clearly show how much a currency transfer is going to cost you will need to ensure you get a fixed mark up rate in writing to ensure you get the best Swedish Krone (SEK) exchange rate.

Should you convert Swedish Krone (SEK) now or wait for the exchange rate to improve?

If you think the exchange rate is going to go in your favour have a chat with your currency broker. Most have been providing market timing advice to institutions and hedge funds for years and should be able to provide some guidenece on strategy. Or, if you are worried the rate will move against you it is possible to lock in the current rate for up to a year in advance with a currency forward.

How do I know what the Swedish Krone (SEK) exchange rate commission is?

These are included in the exchange rate and are always fixed and transparent. Our exchange rates are always a fixed percentage from the live mid-market.

If you want to know how much the fees will be just ask and we’ll provide a clear breakdown. Read our guide on how to compare exchange rates, which also explains what the fees are and how to calculate them.

Will I really get the best Swedish Krone (SEK) exchange rate?

Yes but you’ll have to put a bit of effort it. If you are already using your bank or another currency broker send us a recent transaction and we will send you back a breakdown of exactly how much they are charging you in hidden fees and how our approach to fixed and transparent exchange rates will result in you getting the best Swedish Krone (SEK) exchange rate.

Why buy Swedish Krone (SEK) through a currency broker?

  • Compare the cheapest bank beating currency exchange rates
  • Expert help and advice to reduce your risk and exposure
  • Dedicated account managers every step of the way
  • Convert funds online and platform access 24/7
  • Same day and forward currency exchange contracts
  • Zero service charge, commission or transfer fees
  • Transfer money direct to single or multiple beneficiary accounts
Scroll to Top