Riksbank exchanges EU payment
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 2023. The total amount is SEK 3 347 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 in the foreign exchange market within one month.
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About Sveriges Riksbank
The Riksbank is Sweden’s central bank. We are to ensure that inflation is low and stable over time, contribute to the stability and efficiency of the financial system and make sure that payments can be made. The Riksbank also issues Sweden's banknotes and coins.
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