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OSLO, Aug 31 (Reuters) – The Swedish currency’s weakness is unjustified, and it does not deserve to be labelled as “junk”, the governor of Sweden’s central bank told daily Dagens Nyheter (DN) on Thursday.
“We are concerned about the development of the crown. It is not good that it is this weak, nor is it justified. The crown is undervalued,” Riksbank Governor Erik Thedeen said.
The Swedish crown has weakened this year to trade at record lows against the euro, contributing to the country’s above-target inflation.
“There is a lot of talk about the crown, even in the Swedish media, that it is a junk currency. It is not an accurate picture,” Thedeen told DN.
“There are many things that make us very far from a country with a collapsing currency,” he said.
(Reporting by Terje Solsvik; Editing by Simon Johnson)
((terje.solsvik@thomsonreuters.com; +47 918 666 70))
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