Stockholm Papers in Economic History
Department of Economic History, Stockholm University
Foreign exchange rates in Sweden 1658-1803
Abstract: 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.
Keywords: monetary history; foreign exchange; reichstaler; guilder; pound; taler; zloty; florin; Sweden; (follow links to similar papers)
JEL-Codes: E42; N13; N23; (follow links to similar papers)
46 pages, May 26, 2009
- This paper is published as:
Edvinsson, Rodney, (2010), 'Foreign exchange rates in Sweden 1658-1803' in Edvinsson, Rodney, Tor Jacobson and Daniel Waldenström (eds.) Historical Monetary and Financial Statistics for Sweden: Exchange rates, prices and wages 1277–2008, chapter 5, pages 238-290, Sveriges Riksbank, Ekerlids förlag, ISBN 978-91-7092-124-7.
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