Today's exchange rate forecasts and FX news for the Pound Sterling (currency:GBP) to S.A. Rand (currency:ZAR), Swedish Krona (currency:SEK), Norwegian Krone (currency:NOK) and Danish Krone (currency:DKK) conversion rates today.
Before we discuss the forecasts and predictions for these currencies, let's look at today's forex rates:
On Saturday the South African Rand to British Pound exchange rate (ZAR/GBP) converts at 0.043
The GBP to ZAR exchange rate converts at 23.225 today.
The pound conversion rate (against norwegian krone) is quoted at 13.645 NOK/GBP.
FX markets see the pound vs swedish krona exchange rate converting at 13.536.
The GBP to DKK exchange rate converts at 8.696 today.
NB: the forex rates mentioned above, revised as of 4th May 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 Rand Exchange Rate Today: GBP/ZAR
The Pound Sterling to South African Rand exchange rate advanced by around 0.4% over the course of local trading. The Rand was fairly flat against the US Dollar (ZAR/USD) as economists focused on the upcoming South African inflation data. The rate of consumer price inflation is forecast to remain unchanged at 5.9%. The report will be a deciding factor in whether the South African Reserve Bank leaves interest rates on hold. The SARB decision is due to be announced on Thursday. The GBP/ZAR exchange rate achieved a high of 17.4440 before the close of the session.
Pound to Norwegian Krone Today: GBP/NOK
Although concerns that the UK is facing deflationary pressures are weighing on the Pound, the Pound Sterling to Norwegian Krone (GBP/NOK) exchange rate advanced by 0.2% during Monday’s European session. The GBP/NOK pairing achieved a high of 10.6083 despite Norway’s trade balance figures showing a widening in the nation’s trade surplus. Tomorrow’s UK inflation data could cause further movement in the pairing as soft consumer price gains may see the Pound decline. As the week progresses Norwegian data to be aware of includes the nation’s GDP report for the third quarter. It is expected that the Norwegian economy grew by 0.3% in the third quarter following expansion of 0.9% in the second.
Pound to Swedish Krona Today: GBP/SEK
As the Pound recovered losses against several of its rivals ahead of the publication of the UK’s Consumer Price Index, the Pound Sterling to Swedish Krona exchange rate surged by 0.6%. The Swedish Krona softened against the majority of its currency counterparts after domestic unemployment figures disappointed. The Swedish unemployment rate was shown to have risen from 7.2% in September to 7.5% in October. Economists had envisaged a jobless rate of 7.3%. According to RTT News; ‘In the corresponding period of the previous year, the unemployment rate was at 7.3 percent. The number of unemployed people advanced to 389,000 in October from 371,000 in the previous month.’ With Swedish data lacking over the next few days, further GBP/SEK movement may occur in response to the week’s influential UK news, such as the publication of minutes from the latest Bank of England policy meeting.
Pound to Danish Krone Rate Outlook: GBP/DKK
Danish data is lacking until the second half for the week when the nation will release its Consumer Confidence index and retail sales figures. Consumer confidence in expected to hold at 8.2 in November, unchanged from the reading recorded in October. Retail sales are expected to have increased by 0.5% month-on-month following the -0.9% decline in October. Sales are believed to have increased by 0.7% on the year. The Pound Sterling to Danish Krone (GBP/DKK) exchange rate was trading in the region of 9.3510 on Monday, up 0.4% on the day’s opening levels.