Forex turnover slumps in Sweden

Preliminary monthly turnover figures released last week (December 15) found total foreign exchange volume for November fell to Skr10.1 trillion, down from Skr11.7 trillion in November 2007. This equates to a drop of almost $200 billion.

The major reduction in turnover occurred in the SEK/USD trade, where average daily volumes fell by $2.8 billion to $25.7 billion. Meanwhile, the average daily turnover of krona trades against all other currencies except the euro was $4.3 billion, down by $778

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