2006-01-11

further downhill with the Krona

The TCW-index was 129,37 this afternoon.

This Total Competitiveness Weights index is a tool for measuring the strength of the Swedish krona against a set of other currencies. Index 100 corresponds to Nov 18, 1992 when Sweden introduced a floating exchange rate. Index 129,37 means that the krona has lost almost 30% of its value. Most of this happened at the currency crisis in the fall of 1992. The index hit 120 early 1993. But it’s interesting that after all the proud proclamations about how our currency was supposed to recover it has continued further downhill another ten percent.
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