The Debt Office has in four successive transactions realised a profit of SEK 1.2 billion. The most recent transaction occurred yesterday. The remaining part of the dollar position equivalent to SEK 16 billion currently has an unrealised profit of close to SEK 3 billion. The Debt Office is of the opinion that the dollar may continue to decline in value vis-á-vis the euro.
The Debt Office reallocated the equivalent of SEK 24 billion to the dollar debt from the euro debt. The decision was made public at the beginning of 2000.
The Debt Office manages a foreign currency debt equivalent to SEK 390 billion, or about one third of the total central government debt. The foreign currency debt is managed in accordance with the benchmark established by the Board of the Debt Office. To reduce the cost of the debt, the management can, within a relatively limited range, actively reallocate parts of the foreign currency debt based on its views of changes in interest rates and exchange rates. In exceptional situations, the Board can decide to change the benchmark to make a greater change in position possible.
For more information, please contact:'
Thomas Franzén, Director General,
tel. +46 8 613 46 51
Bengt Rådstam, Head of Portfolio Management,
tel. +46 8 613 46 45