information

Exchange rates to be published later in the day with ECB as new source

ID 25234

The Central Bank of Sweden, Riksbank, has published a press release to inform that is making several changes to its online service for interest rates and exchange rates:
1. Riksbank will begin using the European Central Bank (ECB) as a source for exchange rates instead of Nasdaq. Consequently, exchange rate quotations will be available on its website around 16:15 on Swedish banking days, which is around four hours later than the previous time of around 12:10. This change is expected to be implemented in November or December 2023.
2. As previously announced (EventID 21171), Riksbank is developing a new API (Application Programming Interface) to make it easier for users to automatically retrieve interest rates and exchange rates from the Central Bank. The new API is expected to be launched in November or December 2023 as well. A transition period of 6 months will be provided, during which both the new REST API and the old SOAP API will be available. Since spring this year, users can test a Beta version of the new REST API which may be accessed via this link.
3. Riksbank is preparing a new online form for accessing interest rates and exchange rates. The form is expected to be launched alongside the new REST API.

Riksbank has also published a set of FAQs concerning the new data source for exchange rates. The FAQs cover some basic issues such as
– the scope of rates published;
– the day and time on which average monthly average rates will be available;
– the calculation methodology;
– the availability of historical values; or
– the impact of the switch on the exchange rate index, KIX.
The FAQs can be found here.

Other Features
banks
digitisation
interest rate
process
Date Published: 2023-10-05
Regulatory Framework: not applicable
Regulatory Type: information

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