Foreign exchange rates in Sweden 1658-1803
This paper deals with foreign exchange rates in Sweden 1658-1803. Foreign currencies played a crucial role in Sweden. Most of the domestic currency units were, in fact, originally imported. In the 18th century, the exchange rates most quoted in Sweden were the ones on Amsterdam, Hamburg, London, Paris, Copenhagen, Gdansk and Swedish Pomerania. The primary data are bills of various durations. To estimate spot rates, an assumption must be made of an interest rate on these bills. In the period 1662-1669 the estimated median shadow interest rate on bills of exchange was as high as 12.5 percent, while it most likely decreased substantially in the 18th century.
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|Date of creation:||26 May 2009|
|Date of revision:|
|Publication status:||Published in Historical Monetary and Financial Statistics for Sweden: Exchange rates, prices and wages 1277–2008, Edvinsson, Rodney, Jacobson, Tor, Waldenström, Daniel (eds.), 2010, chapter 5, pages 238-290, Sveriges Riksbank, Ekerlids förlag.|
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