Swedish Krona / Turkish Lira

The SEK/TRY pair shows the amount of Turkish lira paid for one Swedish krona. The krona is managed by Sweden's central bank, the Riksbank, whose long history dates back to the seventeenth century. Although Sweden is a member of the European Union, it has not adopted the single currency; joining the euro was rejected in a referendum held in 2003.

Sweden is a small, open economy built on exports of automotive products, machinery, telecommunications equipment and forest products. Because of this structure, the krona is sensitive to global growth expectations and risk appetite in Europe and can tend to weaken in periods of uncertainty. The krona is also part of the currency basket that makes up the US Dollar Index. The prevalence of cashless payments in Sweden is another factor keeping the Riksbank's digital currency work on the agenda.

The SEK/TRY rate is formed by the combination of Riksbank interest rate decisions, the krona's path against the euro and the dollar, and the Turkish lira's general trend. Lzzo.com provides a reference value for this rate calculated from market exchange rates; it is not a bank buy/sell price, and the figure does not include the spread and commission on cash currency transactions.