Currency pair Euro - Swedish krona (EUR / SEK).
The European economy is steadily growing, which is reflected in the euro exchange rate. By 2018, unemployment rates in a number of countries are at a minimum level. The situation in the EU affects all countries in Europe, even those who are not part of the European Union or have not introduced the euro and have retained their national currency. The volatility between the currency pairs EUR / SEK, the euro and Norwegian koruna, is paramount for determining the volatility in currency pairs connected with the koruna.
Most of Sweden's GDP consists of taxes from companies and individuals. High tax collections are provided by a large number of global companies that are registered in Sweden or have significant production capacity. Sweden is a member of the European Union, but currently does not enter the euro area, evading it for formal reasons. At the same time, the euro is accepted as a means of payment, as well as the Swedish krone.
At Forex, the currency pair euro - Swedish krona (EUR / SEK) is considered exotic. At the same time, the Swedish koruna has a good correlation with the euro - it copies the volatility and directions of the Eurozone currency movement.
The EUR / SEK currency pair is built on the principle of direct quotation. The base currency is EUR, euro, and quoted - SEK, Swedish krona. The growth of the currency pair means strengthening the euro against the Swedish krona, that is, to buy one EUR, more SEK is required. A decrease in the rate indicates the strengthening of SEK. Using the current exchange rate chart, you can monitor the volatility of the currency pair in real time.
Euro (currency sign - €, bank code: EUR) - official currency of 19 eurozone countries (Austria, Belgium, Germany, Greece, Ireland, Spain, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia , Finland, France, Estonia). Also, the currency is used in nine countries that are not members of the euro area. The Euro is managed by the European System of Central Banks (ESCB), led by the European Central Bank (ECB).
Swedish krone - (Bank code - SEK) is the official currency of the Kingdom of Sweden. The Swedish crown is issued by the central bank of Sweden (Sveriges Riksbank).
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