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No, a dropping €($)/SEK exchange rate means that people are moving out of Swedish currency, which is consistent with the general pattern of people moving into large currencies during times of uncertainty.

- Jake

Austerity can only be implemented in the shadow of a concentration camp.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Fri Aug 12th, 2011 at 05:58:40 AM EST
[ Parent ]
If $1 bought 11 SEK three months ago and buys you 10 SEK today the purchase cost of the SEK has risen when measured in dollars.

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre
by ATinNM on Fri Aug 12th, 2011 at 12:55:55 PM EST
[ Parent ]
Indeed. But what the graph actually says, should you inspect the relevant axis, is that last month it cost € 0.11 to buy SEK 1, and now it costs € 0.10.

So € 1 used to buy SEK 9, and now it's buying SEK 10.

- Jake

Austerity can only be implemented in the shadow of a concentration camp.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Fri Aug 12th, 2011 at 03:17:31 PM EST
[ Parent ]

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