Currency Rate
Swedish Krona to USD
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Buying rate
SEK 0.098352
Selling rate
SEK0.112266
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The Swedish krona (symbol: kr; code: SEK) is the official currency of Sweden.
Currency Details
- Country code SE
- Symbol SEK
- ISO Code SEK
- Subunits 1 Krona = 100 Öre
Coins
- 1 krona
- 2 kronor
- 5 kronor
- 10 kronor
Banknotes
- 20 kronor
- 50 kronor
- 100 kronor
- 200 kronor
- 500 kronor
- 1000 kronor
The Swedish Krona, abbreviated as SEK, is the official currency of Sweden. Symbolized as "kr", it is subdivided into 100 öre, though öre coins were phased out in 2010. Introduced in 1873 as part of the Scandinavian Monetary Union, the krona (meaning "crown") remains Sweden's national currency despite the country's EU membership.
History and Background
The krona replaced the riksdaler at par when Sweden joined the Scandinavian Monetary Union with Denmark and Norway. While the union dissolved after WWI, all three nations kept the krona/crown name. Sweden famously rejected adopting the euro in a 2003 referendum, maintaining the krona as a symbol of economic sovereignty. The currency has weathered crises like the 1990s banking collapse, emerging as one of Europe's most stable currencies.
The krona replaced the riksdaler at par when Sweden joined the Scandinavian Monetary Union with Denmark and Norway. While the union dissolved after WWI, all three nations kept the krona/crown name. Sweden famously rejected adopting the euro in a 2003 referendum, maintaining the krona as a symbol of economic sovereignty. The currency has weathered crises like the 1990s banking collapse, emerging as one of Europe's most stable currencies.
Economic Significance
Managed by the Sveriges Riksbank (the world's oldest central bank), the krona is a free-floating currency influenced by Sweden's export-driven economy. Key sectors like manufacturing (Volvo, Ericsson), forestry, and tech impact its value. As a small, open economy, the krona often reflects global risk sentiment - strengthening during stable periods but vulnerable to market volatility. Sweden's innovative cashless society presents unique challenges for currency management.
Managed by the Sveriges Riksbank (the world's oldest central bank), the krona is a free-floating currency influenced by Sweden's export-driven economy. Key sectors like manufacturing (Volvo, Ericsson), forestry, and tech impact its value. As a small, open economy, the krona often reflects global risk sentiment - strengthening during stable periods but vulnerable to market volatility. Sweden's innovative cashless society presents unique challenges for currency management.
Usage and Exchange
While Sweden leads the world in cashless payments (many shops display "Cash-Free" signs), kronor remain legal tender. ATMs are scarce outside major cities, and cards dominate transactions. Visitors can exchange money at airports, banks, or Forex shops in Stockholm, Gothenburg, and Malmö. Interesting quirk: Sweden still produces 1, 2, 5, and 10-krona coins despite their declining use. The krona is traded internationally but considered a minor currency outside Scandinavia.
Conclusion The Swedish krona represents more than monetary value - it embodies Sweden's balance of innovation and tradition. From Stockholm's high-tech hubs to rural Dalarna's markets, the krona tells a story of economic resilience. For visitors, understanding Sweden's near-cashless system is as important as recognizing the krona's colorful banknotes - a fascinating glimpse into Europe's most digitally advanced society.
While Sweden leads the world in cashless payments (many shops display "Cash-Free" signs), kronor remain legal tender. ATMs are scarce outside major cities, and cards dominate transactions. Visitors can exchange money at airports, banks, or Forex shops in Stockholm, Gothenburg, and Malmö. Interesting quirk: Sweden still produces 1, 2, 5, and 10-krona coins despite their declining use. The krona is traded internationally but considered a minor currency outside Scandinavia.
Conclusion The Swedish krona represents more than monetary value - it embodies Sweden's balance of innovation and tradition. From Stockholm's high-tech hubs to rural Dalarna's markets, the krona tells a story of economic resilience. For visitors, understanding Sweden's near-cashless system is as important as recognizing the krona's colorful banknotes - a fascinating glimpse into Europe's most digitally advanced society.