The British currency has fallen to its lowest level against the krona since 1996.

On Tuesday the pound fell to its weakest level against the Swedish currency in almost 14 years, below 11 kronor per pound.

According to currency analyst the fall is caused by the British central bank chairman Mervyn King and his happy-go-lucky approach to the troubled economy, business daily Dagens Industri wrote.

The British economy has been hit harder by the recession than many other European countries. On Monday the pound fell further after new gloomy economic statistics was presented.