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Sweden’s Riksbank is still pressing on with its quest to convince people to exchange their soon-to-be obsolete coins and banknotes, but it is at least making great strides in the use of inventive measurements.
Having warned last month that there were 25 jumbo jets worth of krona coins lying down the side of Swedish sofas, the central bank said today that it has made little progress gathering them up.
With only two months to go until Sweden completes its largest ever banknote and coin changeover, only a quarter of the old coins in circulation six months ago have been exchanged. There are still SEK2bn ($230m) worth of old coins in circulation, which together weigh as much as eight Vasas (the 17th century warship and much-loved Stockholm tourist attraction).
The banknote situation is even worse, with SEK13bn still circulating. That’s enough to cover 70 football fields if laid out flat, according to the Riksbank (or approximately 1/61,000th of a Belgium, according to fastFT calculations).
Photo: Ola Ericson