The Euro under ten Kronor
Feb 11 2010 Sweden’s Krona surged to the strongest in almost 15 months against the Euro Thursday. A Euro is now under ten Kronor for the first time since November 2008.
The Executive Board of the Swedish Riksbank decided, as expected, to leave the repo rate unchanged at record low 0.25 percent, the Riksbank said in a statement Thursday. Sweden’s Krona surged to the strongest in almost 15 months against the Euro after the announcement, and the price of one Euro is below ten Kronor.However, it is expected that the Riksbank will begin to raise the repo rate during the year. The first hike is expected this summer.Last year, the Euro was at lowest against the Krona on September 23, when one Euro was at 10.08 Kronor.