Swedish debt office says it will close stronger krona bet

Discussion in 'Forex' started by ASusilovic, Sep 7, 2010.

  1. LONDON (MarketWatch) -- The Swedish krona fell Tuesday after the nation's debt agency said it would begin to unwind a successful 50 billion kronor ($6.8 billion) bet on the currency's rise.

    "We believe that the Swedish krona could appreciate further from these levels, though we consider the current levels to be relatively normal," the Swedish National Debt Office said in a statement.

    The agency said it isn't targeting "a best possible exchange rate" and that the position will be closed "on many different levels."


    The office said it bought Swedish krona versus the euro when the euro traded between 10 and 11.50 kronor. The debt office said its unrealized profit on the position by the end of August was around 6 billion kronor.


    Cool. :cool:
  2. 50bn SEK is nuthin', especially since the SNDO intends to do it over a course of a year...

    Probably less size than Elin needs to do :)!
  3. I would like to have the fire power of 50bn - even SEK...:p