Riksbank exchanges EU payment
Sweden's EU membership entails monthly contributions to the EU's budget from the Swedish government. The payments are made in Swedish kronor and are exchanged into euro in the foreign exchange market by a recipient central bank within the EU.
The Riksbank has on the 4th of March decided to exchange an EU payment. The total amount is SEK 3 357 million. The Riksbank exchange the payment to avoid unnecessarily large fluctuations in the exchange rate in connection with these transactions.
The exchange is not expected to have any impact on the current monetary policy. The effect on liquidity in the banking system is neutralised through FX-swaps. The Riksbank intends to repurchase the corresponding euro amount linearly in the foreign exchange market during the period 22nd of April until 20th of May.
Contacts
Presstjänsten/Press office
Tel:
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.
Alternative languages
Attachments
Subscribe to our company announcements
Keep up to date with our company announcements by subscribing.
Visit our pressroom and see more company announcements from us.
Our pressroom