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Low Interest Rates Sink Krona

Published onsdag 16 november 2005 kl 12.03

The Swedish krona has fallen in recent months more than any other currency.

According to Swedish Television News, this follows successful speculation against the krona by international hedge funds, most based in London or in the United States.

The value of the krona against the dollar has fallen by 25 percent in the past year.

Experts say one reason the funds have speculated against the currency is because the Swedish Central Bank has lowered interest rates here, while its counterparts in other countries have raised theirs, or have signalled an intention  to do so.

The head of the central bank said Wednesday that he expects the key repo rate to rise sometime next year, from the current historic low of 1.5 percent.

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