Swedish Krona Lowest Ever
The Swedish Krona has fallen by more than 50 % against the US dollar and 73 % against the Japanese yen since last summer.
Karl-Johan Bergström, a currency strategist at Swedbank, says that the reason behind this is that investors are avoiding the smaller currencies at present.
Bergström also claimed that being a small export economy is particularly difficult in times of recession - an argument used by those in favour of the Euro before the referendum in 2003 - and that it is now that we really get to feel what that means.
According to the Total Competitiveness Weights Index, which measures the Krona’s value against the currencies of 20 of Sweden’s most important trade partners, the Krona has never been as weak as it is now.