Riksbank reports currency exchanges for a self-financed foreign exchange reserve
On the first Monday in every month the Riksbank reports the previous month’s foreign currency exchanges made for the purpose of having appropriate long-term funding for the foreign exchange reserve. The exchanges of Swedish krona for euro and US dollars were initiated on 1 February 2021 and are to be implemented at an even pace over almost three years, until the end of December 2023.
The purpose of spreading the exchanges evenly over a three-year period is to minimise the effect of the exchanges on the foreign exchange market and the krona exchange rate. This is important because the exchanges fulfil no monetary policy purpose and are thereby not being conducted to affect the krona exchange rate.