3 months ago
15
Sweden's EU membership entails monthly contributions to the EU's budget. These payments are made in Swedish kronor by the Swedish government and exchanged into euro in the foreign exchange market by a recipient central bank within the EU.
The Riksbank has decided to exchange an EU payment in February 2025. The total amount is SEK 7 900 million. The Riksbank has on previous occasions exchanged EU payments to avoid unnecessarily large fluctuations in the exchange rate in connection with these transactions.
These exchanges do not have any monetary policy purpose. The effect on liquidity in the banking system is neutralised by means of FX-swaps. The Riksbank intends to repurchase the corresponding euro amount linearly in the foreign exchange market within two months.
Get the latest news
delivered to your inbox
Sign up for The Manila Times newsletters
By signing up with an email address, I acknowledge that I have read and agree to the Terms of Service and Privacy Policy.
