Financial Crisis

Debt Office to Boost Weak Krona

In an attempt to boost the currently weak krona Sweden's debt office said it would boost its exposure in the euro, Reuters reports. The decision came after the government gave the debt office greater flexibility in that matter. This means that the debt office’s exposure to the euro will be increased to 50 billion kronor – which is around $US 6.4 billion.

The krona has been hit by renewed worries about Swedish banks' exposure in the Baltic region, stoked by a central bank announcement on Wednesday that it was boosting foreign currency reserves so it could lend to Swedish banks. (ah)

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