British Pound Sterling GBP to Swedish Kronor SEK exchange rate Bookmark and Share

Monday, November 2, 2009

If you’re thinking of emigrating to Sweden, or buying something from Sweden on the internet, or just taking a holiday and converting some money to from British Pounds Sterling to Swedish Kronor (Crowns), then think carefully about the timing of when you do this! The exchange rate at present is really bad, and you’re not going to get as many ‘crowns’ for your ‘pounds’ as you would’ve in the past.

£ sterling against Swedish Kr over 5 years

£ sterling against Swedish Kr over 5 years

Annoyingly, after a few years of planning, I’ve recently emigrated from the UK to Sweden…. just as my British Pounds have become worthless in Sweden. Well, not worthless, but worth less than they did during the planning stages of my emigration. At the time of writing this article (2nd November 2009) for every £1.00 I exchange, I would get less than 11.67 Swedish Kronor. If you have nothing to compare this to, then it means nothing. So if I tell you that just a couple of years ago, when I was visiting Sweden, I got over 14 Swedish Krona for every pound I exchanged! And of course when we’re talking large volumes of money, that difference becomes huge.

Before 2008, anyone exchanging money between pounds and crowns would’ve expected to get around 13 or 14 Kronor to the pound. Now, since I’ve been following the exchange closely due to emigrating here, the rate fluctuates around the 11 Kronor point on average, which is pretty low!!

£ Sterling against Swedish Kr over 10 years

£ Sterling against Swedish Kr over 10 years

Even worse, if you consider the exchange rate over 10 years. Here you can see just how low 11 kronor to the pound really is. Back in 2001, there was a time when for every British Pound, you would have received a whopping 16 Swedish Kronor.

Considering emigrating to Sweden from the UK? Or buying a property here? Then just think carefully. Exchanging £200,000 of your hard earned British Pounds, will at today’s exchange rate give you about 2.33 Million Swedish Kronor. Where as if you’d have done it in 2001, you would’ve got 3.2 million Swedish Kronor in the bank for the same amount of money! The difference is staggering. Almost 1 million Swedish Kronor more for your money.

This is why, I’m now on my hands and knees praying that the exchange rate improves somewhat over the coming months. I’ve got the proceeds of my house sale sat in a bank in the UK waiting to be sent over here to my Swedish bank account… But I’m really reluctant to exchange it just now, when the exchange rate is at such a pathetic point in it’s history.

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Comments (4)

 

  1. Curtis Annen says:

    Morning, It is nice to find a good blog like this one. Do you care if I use some of the info here, as long as I give you a link back?

  2. admin says:

    Sure, but please provide links to specific pages where you quote te information. Cheers, Jon

  3. […] DeLong and Yglesias seem to overlook.  The kronor has not depreciated against the British pound; this link shows the pound has depreciated slightly against the kronor (with some month to month variation.)  In […]

  4. Steve says:

    My fortunes are different but I am in total agreement about what you say. Three years ago a bought a house in Sweden and lost about £600 on the currency transactions. Recently, I sold the house at roughly the same price but gained nearly £2k on the currency transactions. When exchanging SEK for sterling you really are in it for the long haul if you are looking for equitable rates.

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