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The krona is the official currency of Sweden. The krona has been the currency of Sweden since 1873. Sweden is often said to be the most cashless country on the planet. The monetary unit in Sweden is the krona SEK (plural “kronor”) and equals 100 öre. Banknotes are printed in values of 20, 50, 100, 200, 500 and 1,000 kronor. The coins are available as 1, 2, 5 and 10 kronor.
The introduction of the krona, which replaced at par the riksdaler, was a result of the Scandinavian Monetary Union, which came into effect in 1876 and lasted until the beginning of World War I. The parties to the union were the Scandinavian countries, where the name was krona in Sweden and krone in Denmark and Norway, which in English literally means "crown".
Important Information
ISO Code: SEK
Central Bank: Sveriges Riksbank
Official website: riksbanken.se
Subunit: Øre
Despite Sweden's relatively small economy, its well-educated and tech-savvy workforce and the fact that it is home to many multinational corporations have led many forex observers to classify SEK as a safe haven currency. A safe haven is expected to retain or increase in value during times of market turbulence. SEK is the currency code for the Swedish krona, the currency for Sweden. The Swedish krona is made up of 100 öre and is often presented with the symbol "kr." The krona, which means crown in Swedish, has been Sweden's currency since 1873 and is also expressed by the symbol KR.
Does Sweden use the Euro?
No, Sweden has not adopted the Euro. A referendum was held in 2003 and the country voted to continue with its own currency, the Swedish Krona.
Why does Sweden not use the euro?
Sweden does not currently use the euro as its currency and has no plans to replace the existing Swedish krona in the near future. Sweden's Treaty of Accession of 1994 made it subject to the Treaty of Maastricht, which obliges states to join the eurozone once they meet the necessary conditions.
What is a Sverige coin? Swedish krona coins are produced by the Sveriges Riksbank since 1873. The current set of krona coins consists of coins from 1 krona to 10 krona. Coins of 50 öre coins were demonetized in 2012 and are no longer exchangeable.
Sweden is a member country of the EU since January 1, 1995, with its geographic size of 438,574 km², and population number 9,747,355, as per 2015. The Swedes comprise 1.9% of the total EU population. Its capital is Stockholm and the official language is Swedish.
It's best to take Swedish Krona to Sweden. If you can't buy some before your trip, the next best option is to bring US dollars (USD), Euros (EUR) or Pounds (GBP).
Value of the Swedish Krona (As on 21/04/2022)
1 Swedish Krona = INR 8.11 (Indian Rupees)
1 Swedish Krona = PKR 19.82 (Pakistani Rupees)
1 Swedish Krona = BDT 9.20 (Bangladeshi Taka)
1 Swedish Krona = USD 0.11 (United States Dollar)
1 Swedish Krona = EURO 0.098 (Euro)
You can watch the following videos in YouTube in my channel "CURRENCY UNIVERSE" to know more about the Swedish Krona. Please note that the videos are in Hindi.
SWEDEN CURRENCY - THE SWEDISH KRONA
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Last updated on 21/04/2022
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