Sveriges Riksbank advises citizens to hold cash for emergencies

Sveriges Riksbank, the Swedish central bank, has issued its first direct guidelines to citizens regarding emergency preparedness in the event of war, cyberattacks, or prolonged crises. The bank recommends that every adult maintain at least 1,000 Swedish krona (approximately 91-110 USD) in cash to cover essential needs such as food and medicine for one week.

In addition to cash, the bank advises citizens to hold bank cards from different issuers and utilize the local digital payment service, Swish, to ensure transaction capabilities during temporary disruptions. These measures aim to bolster national readiness amid heightened security threats from Russia and the Middle East.

Swedish authorities have noted that the country's payment system is particularly vulnerable due to high levels of digitalization, with cash accounting for only about one in ten transactions. Similar recommendations for cash reserves and payment diversity have previously been issued by the central banks of Finland and Norway.