Riksbank exchanges EU payment
Sweden's EU membership entails monthly contributions to the EU's budget. These payments are made in Swedish kronor by the Swedish government and exchanged into euro in the foreign exchange market by a recipient central bank within the EU. Around the turn of the year, liquidity on the foreign exchange market tends to be thinner than normal. The Riksbank has therefore previously exchanged the payment in December/January in order to avoid unnecessarily large fluctuation in the exchange rate.This year, the Riksbank has also decided to exchange the EU payment at the turn of the month January/