Advertisement Opportunities | About Us | Contact Us | Tell us what you think | Jobs | Shopping | Dating | Archive 


Market News

The Market Quotes Powered By Forexpros, the Forex, Futures, and Stock Markets Portal.


Swedish GDP Figures pushes the Krona to a new strength 

Monday, 30 July 2012
The Swedish krona took a big jump on Monday as the Swedish GDP growth turns out to be significantly better than expected.

Sweden's gross domestic product (GDP) grew by 2.3 percent in the second quarter this year compared to same period last year. Compared to the first quarter of this year, GDP grew by 1.4 percent, according to Statistics Sweden (SCB).

Economists had expected a GDP growth of 0.8 percent year on year, according to Reuters. Between the first and second quarter, economists had expected a growth of 0.3 percent.

Immediately after the announcement, the Swedish krona strengthened from Skr8.45 per euro to 8.40 kronor per euro. This is the lowest price since September 2000.

Even with the dollar, the exchange rate fell sharply when GDP digits was released and reached the strongest level since early May. Shortly after 10 o'clock on Monday morning the Krona was Skr6.83 kronor to the dollar.
by Team

What do you think about this article and us? Please leave a comment!
  • Should be Empty:

Print Friendly and PDF