British Pound To Rand, Norwegian Krone, Swedish Krona, Danish Krone - Exchange Rate Summary

Published: 20 Oct 2017 21:24 Currency Markets

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Exchange Rate Analysis for the Pound Sterling (currency:GBP) to Rand (currency:ZAR), Swedish Krona (currency:SEK), Norwegian Krone (currency:NOK) and the Danish Krone (currency:DKK) rates.

The Pound Sterling weakened against all of its major exchange rate peers due to a combination of weak domestic economic data and concerns over the outcome of the May 7 general election.

Political uncertainty is forecast to send the Pound rate falling further against its major peers as voting day draws closer.

The Pound Euro exchange rate (GBP-EUR) fell after the German Bundesbank said that it expects the German economy to perform strongly in the first half of this year and as it said that the Eurozone was strong enough to survive one of its members defaulting on its debts.

The leaders of Greece and Germany are meeting to discuss the Greek crisis.

Before we bring you the latest forex rate analysis, forecasts and predictions for these currencies, let's look at today's updated forex rates:

On Friday the South African Rand to British Pound exchange rate (ZAR/GBP) converts at 0.042

The pound conversion rate (against south african rand) is quoted at 23.908 ZAR/GBP.

FX markets see the pound vs norwegian krone exchange rate converting at 13.719.

The live inter-bank GBP-SEK spot rate is quoted as 13.523 today.

Today finds the pound to danish krone spot exchange rate priced at 8.737.

NB: the forex rates mentioned above, revised as of 29th Mar 2024, are inter-bank prices that will require a margin from your bank. Foreign exchange brokers can save up to 5% on international payments in comparison to the banks.

Pound to Norwegian Krone Exchange Rate Today: GBP/NOK

The Norwegian Krone held onto the gains it achieved last week after the nation’s central bank voted in favour of leaving interest rates unchanged at 1.25%.

The Krone took advantage of the Pound’s weakness but was under some pressure from weaker oil prices. The value of the commodity fell after Saudi Arabia said that it would consider tapering production only if non-OPEC producers did the same.

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GBP/DKK News for the Week

The Danish Krone followed the Euro higher against the majority of its most traded peers. As the Krone is pegged to the single currency it movements closely mirror that of the Euro. The Danish currency also received support from the release of domestic economic data, which showed that consumer confidence in the nation soared in March. Confidence increased from the 9.1 recorded in February to 13.9. The figure beat economist forecasts for a figure of 7.73.

Pound to Swedish Krona Today: GBP/SEK

The Swedish Krona rallied from last week’s declines against the Pound Sterling as it took advantage of the UK currency’s weakness.

The Swedish currency will experience volatility later in the week as the latest consumer and business confidence reports are due to be released on Wednesday.

On Thursday, the latest balance of trade and PPI data is published whilst on Friday the latest batch of retail sales data will be released.

Rand Exchange Rate Outlook

The Rand held steady with direction likely to be driven by global market moves as investors speculate on the timing of policy tightening in the United States.

On the domestic front, market players anticipated few ripples from the South African Reserve Bank's interest rate decision on Thursday, where the benchmark repo rate will likely stay unchanged at 5.75%.

The currency could come under pressure as the week progresses due to concerns over potential unrest in the nation’s mining sector.

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