The currency pair pound sterling to the Swedish krona is quite popular due to the stable and predictable economy of the Eurozone and the Swedish economy.
Sweden and Great Britain are trading partners with high business activity. Sweden is rich in mineral resources, iron ore, non-ferrous metals and timber. Sweden exports most of the manufactured goods such as engineering products, iron ore, steel and paper, so the Swedish krona is very dependent on the volume of exports.
The leading direction of the British economy is the service sector. The UK provides 10% of global exports of services, including banking, brokerage, advisory and programming. The second most important sector of the economy is industry: mining (2.2% of GDP) and manufacturing (14.7% of GDP). The main export of the country is engineering, transport, industrial goods and chemicals. Oil production since the 1970s brought a significant profit in trade and allowed to reduce the import of petroleum products.
Using the current exchange rate chart, you can monitor the volatility of the currency pair in real time.
The pair GBP / SEK is built on the principle of direct quotation. The base currency is GBP, the British pound, and the quoted currency is SEK, the Swedish krona. The growth of the currency pair means strengthening the British pound against the Swedish krona, that is, to buy one GBP, more SEK is required. A decrease in the rate indicates the strengthening of the Swedish krona.
Swedish krone - (Bank code - SEK) is the official currency of the Kingdom of Sweden. The Swedish Krona is issued by the central bank of Sweden (Sveriges Riksbank).
British pound, pound sterling or pound - (currency symbol: £, Bank code: GBP) is a currency that acts as the national currency of the United Kingdom of Great Britain and Northern Ireland (Great Britain), including England, Scotland, Wales and Northern Ireland. Also the pound is a parallel currency of the crown lands of Guernsey, Jersey and the Isle of Man. The pound sterling is a legal tender for the British overseas territories: the Falkland Islands, Gibraltar, St. Helena, Ascension and Tristan da Cunha. The Bank of England has the right of money issue and regulation.
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