Convert 1 SEK to NOK

1 Swedish Krona to Norwegian Krone — 1 SEK is kr1.02.

The Swedish Krona to Norwegian Krone exchange rate is influenced by Riksbank interest rates, inflation data, export performance, and Eurozone economic health, as well as Norges Bank rates, oil prices, inflation data, and Eurozone economic performance. Both the Riksbank and Norges Bank play crucial roles in determining the relative strength of these currencies.

The Swedish krona has had a rough few years and its been one of the weaker G10 currencies which is a bit surprising for a country thats generally well run with a strong economy. Sweden is in the EU but voted against adopting the euro back in 2003 and the Riksbank which is literally the worlds oldest central bank runs its own monetary policy. The SEK tends to trade as a higher beta version of the euro.. when risk sentiment is good it outperforms and when things go wrong it underperforms which is odd for a country with such solid fundamentals. EURSEK is the main pair and it can trend for extended periods which makes it quite nice for swing trading. USDSEK works too but you get more noise from the dollar side. Swedens economy is export heavy with big names in manufacturing tech and forestry products so global trade sentiment matters. The housing market has been a concern because Swedish household debt is among the highest in the developed world and rate hikes hit consumers hard. Liquidity is fine during European hours but drops off outside of that. A good currency for people who like Scandinavian macro plays and dont mind a bit of volatility.

The Norwegian krone is basically an oil currency wearing a Scandinavian jumper. Norway is one of the biggest oil and gas exporters in the world and the NOK correlates with crude prices in a way thats almost comical at times.. Brent moves up NOK strengthens Brent drops NOK weakens. EURNOK is the main pair for most traders and its got decent liquidity during European hours. USDNOK works too but EURNOK tends to be cleaner for the oil trade since you strip out some of the broad dollar noise. The big background story is Norways sovereign wealth fund which is absolutely enormous.. over a trillion quid worth of assets making it the biggest in the world. The fund mostly invests overseas though so its flows can actually weaken the krone which is a bit counterintuitive. Norges Bank sets monetary policy and theyve generally been fairly hawkish compared to the ECB and other European central banks. The krone can be surprisingly volatile for a developed market currency and it tends to sell off during risk off episodes despite Norway being one of the most financially stable countries on earth. Good pair to trade if you have a view on European energy markets.