🇳🇿 NZD vs 🇸🇪 SEK: Currency Strength Comparison
Data updated: November 6, 2026
On November 6, 2026, one New Zealand Dollar bought 5.4744 SEK at the official reference rate, so per unit the New Zealand Dollar is worth more. A higher unit value only reflects how each currency is denominated, not which one is gaining: over the past 12 months NZD strengthened by 1.4% against SEK, so on momentum the New Zealand Dollar (NZD) is the stronger of the two.
Adjusted for consumer-price inflation in both economies, NZD lost 1.3% in real terms against SEK over the same period.
NZD relative to SEK
Positive values mean NZD strengthened against SEK.
NZD vs SEK over the last three years
NZD against SEK, index 100 on November 6, 2023. A rising line means NZD gained on SEK. Dashed: the same, adjusted for consumer-price inflation in both economies. Green dot: 3-year high, red: 3-year low.
- 3-year high: 101.3 on May 17, 2024, when NZD was at its strongest against SEK in the period.
- 3-year low: 81.5 on January 12, 2026.
- Now: 84.5, 16.6% below the high and 3.7% above the low.
- Sharpest one-month move: NZD fell 6.7% against SEK between February 11, 2025 and March 11, 2025, around the time of “Riksbank cuts to 2.25%” (🇸🇪 March 20, 2025).
What moved NZD and SEK
- · 🇳🇿 RBNZ hikes OCR to 2.50% — New Zealand's central bank raises rates again to bring inflation back to target
- · 🇸🇪 Riksbank holds, signals cuts finished — The Riksbank holds at 1.75% and signals its 2025 easing cycle is complete
- · 🇳🇿 RBNZ cuts to 2.25%, signals end — RBNZ cuts to a three-year low while signaling its easing cycle is complete
- · 🇳🇿 RBNZ starts cutting — RBNZ begins easing cycle, cuts from 5.50% peak
Major central-bank decisions, elections and shocks for the two currencies since November 6, 2023. The interactive chart marks them on the line.
Performance against 15 major currencies
| Currency | 12-month change vs basket | Rank |
|---|---|---|
| 🇳🇿 New Zealand Dollar (NZD) | -1.2% | #9 of 16 |
| 🇸🇪 Swedish Krona (SEK) | -2.7% | #14 of 16 |
Open the interactive NZD/SEK chart →
How this comparison works
Each currency's strength index starts at 100 and accumulates its daily change against 15 other major currencies (a geometric mean of pairwise exchange-rate moves), using European Central Bank reference rates and other official sources. The relative figures above divide NZD's index by SEK's, so they reflect the two currencies' performance against each other while accounting for the whole basket. The real variant additionally adjusts each currency for its domestic CPI inflation.
Read the full methodology →Frequently asked questions
Is NZD stronger than SEK right now?
It depends on the question. Per unit, 1 NZD = 5.4744 SEK (reference rate, November 6, 2026), so the New Zealand Dollar is worth more. As for which one is gaining, over the past 12 months NZD strengthened by 1.4% against SEK, so on momentum the New Zealand Dollar (NZD) is the stronger of the two.
How do NZD and SEK perform against other major currencies?
Against a basket of 15 major currencies over the past 12 months, NZD ranks #9 of 16 (-1.2%) while SEK ranks #14 (-2.7%).
What does the NZD vs SEK strength comparison show?
Rather than a single exchange rate, this page compares how each currency performed against a basket of 15 major currencies, then derives their relative strength. It filters out moves caused by the other currency alone and shows who is truly stronger.
How often is the data updated?
Every trading day (Monday to Friday), after the European Central Bank publishes its reference rates, usually around 16:00 CET.