The Swedisk Krona advanced against the euro in European deals on Thursday, after Sweden's central bank retained its benchmark rates as the benefits of the expansionary monetary policy is working through the economy.

The Executive Board of the Riksbank decided to hold the repo rate at -0.35 percent as expected by economists. The bank last lowered the rate in July, when it cut the rate from -0.25 percent.

The repo rate is expected to be at the current level for about one year, while the repo-rate path reflects the possibility of lowering the rate further.

The krona climbed to a 1-1/2-month high of 9.3935 against the euro, compared to yesterday's closing value of 9.4658. The next possible resistance for the krona is seen around the 9.37 mark.

Sterling vs CHF (FX:GBPCHF)
Forex Chart
From Mar 2024 to Apr 2024 Click Here for more Sterling vs CHF Charts.
Sterling vs CHF (FX:GBPCHF)
Forex Chart
From Apr 2023 to Apr 2024 Click Here for more Sterling vs CHF Charts.