About the AUD/SEK rate
The AUD/SEK rate is how many SEK one Australian dollar buys. It moves constantly with interest-rate expectations, commodity prices and global risk sentiment - see what moves the rate. Tradergy shows the mid-market reference rate and does not forecast where it’s heading. For the 52-week highs and lows and a daily table, see the AUD/SEK rate history.
Where else this pair appears: the reverse rate, SEK → AUD, is on the receiving Swedish krona view, and sending Australian dollars to Sweden is covered on the AUD → SEK transfer page. Every AUD pair sits on the convert hub, and to work in more than one currency at once there is the currency converter.
The decision Sweden's central bank does not make
Sweden's float has a date on it. The krona was pegged to the ECU, the euro's predecessor, and came under sustained pressure in the crisis of the early 1990s. After what the Riksbank calls a stubborn defence, conducted through political rescue packages and sharp interest rate increases, Sweden abandoned the fixed exchange rate on 19 November 1992.
A replacement anchor followed almost immediately. In January 1993 the Riksbank announced that price stability remained the overall objective and would now be pursued through a direct inflation target of 2 per cent, measured on the consumer price index with a tolerance of one percentage point either way, to apply formally from 1 January 1995. The decision was taken by the General Council, the Bank's decision-making body at the time, many of whose members were active politicians. In 2017 the Bank moved the formal target variable to the CPIF, the consumer price index with a fixed interest rate, where it remains.
The statute underneath all this was rewritten recently. The Sveriges Riksbank Act (2022:1568) entered into force on 1 January 2023 and states the overriding objective as maintaining sustainably low and stable inflation, with a secondary duty, not to be pursued at the price of the first, to contribute to balanced development in production and employment.
The same Act settles a question that is easy to assume the other way. It provides that the Riksbank shall apply the exchange rate system that the Government has decided on under the Currency Policy Act of 1998. Whether the krona floats is a matter for the Government; what the Riksbank owns is the inflation target inside whichever regime it is handed.
Sources: Sveriges Riksbank, history of the inflation target · Sveriges riksdag, Lag (2022:1568) om Sveriges riksbank · Sveriges Riksbank, new Sveriges Riksbank Act provides clearer mandate to promote financial stability