SEK – Swedish Krona

Swedish Krona Overview

The Swedish Krona is the currency of Sweden.The currency code for Kronor is SEK, and the currency symbol is kr.

The krona came into being in 1873 once it replaced the then-Swedish currency the riksdaler. the krona wasn’t supposed as a currency only for the Scandinavian nation, however as a part of a Scandinavian financial Union, with Denmark and Norway. The financial Union concluded with the occurrence of warfare I in 1914. Scandinavian nation abandoned the gold customary on August two, 1914

Sweden didn’t be a part of the bulk of its fellow world organization members and adopt the monetary unit, thereby rendering their national currencies defunct. this is often in spite of the actual fact that Scandinavian nation is technically obligated to hitch the monetary unit, together with the conditions of its ascension to the EU in 1995.

Role of Currency:

Currency Code:SEK
Currency Symbol:kr
Authority: Sveriges Riksbank
Currency Issued Date: August 1914
Using currency all Bank Notes: 20 kr, 50 kr, 100 kr, 200 kr, 500 kr, rarely used 1000 kr

Bank Notes Denominations Range: From 20 to 1000
Using currency all Bank Coins: 1 kr, 2 kr, 5 kr, 10 kr
Bank Coins Denominations Range: From 1 to 10

The SEK and the euro
Under the 1994 Accession Treaty, Sweden is supposed to join the Eurozone and adopt the euro. In 2003, however, a referendum was held, resulting in 56% opposition to joining. There is still much debate whether it would be in the best interest for the country to join and as such, has delayed the adoption of the euro.

Currency Facts

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