SWESTR (Swedish krona Short Term Rate) is a reference rate calculated and published by the Riksbank. SWESTR is a transaction-based reference rate calculated by the Riksbank based on transactions executed on the money market from one banking day to the next in Swedish kronor. The Riksbank also provides compounded average rates and an index based on SWESTR.

SWESTR 26/09/2023

  • Volume63,700 MSEK
  • Number of transactions127
  • Number of agents7
  • Upper trimming boundary3.65 %
  • Lower trimming boundary3.60 %
  • Calculation methodNormal

Calculation method

Compounded averages and index, SWESTR 27/09/2023


  • 1 week3.64509 %
  • 1 month3.64782 %
  • 2 months3.65331 %
  • 3 months3.63673 %
  • 6 months3.43436 %

Averages and index

Reference rates fulfil an important function in the financial system in Sweden and in other countries and are used as a common benchmark when pricing financial contracts. To maintain confidence in Swedish reference rates, the Riksbank would like to see transaction-based reference rates used instead of traditional interbank rates. The Riksbank believes market participants should as soon as possible stop using STIBOR at its shortest maturity and instead use SWESTR. In the longer run, the Riksbank considers that STIBOR should cease for all maturities. Such a change must be done in an orderly manner and is a multi-year development project. The Riksbank will be active in supporting such a change.

The test period for SWESTR that has been running since January 2021 has now been concluded and SWESTR can be used as a reference rate in financial contracts.

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Updated 02/09/2021