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SEK - Swedish Krona

Sweden, Krona

SEK - Swedish Krona

The Swedish Krona is the official currency of Sweden. It trades with the currency code SEK and is represented by the currency symbol of kr. The Swedish Krona was adopted as the county's official currency in 1873 when the country joined the Scandinavian Monetary Union with Norway and Denmark. Following the dissolution of the Union in 1914, at the start of World War I the currencies were separated, and Sweden kept its own respective krona. The exchange rate of the Swedish Krona against other currencies is largely dependent on the monetary policy of the country. Since 1992, a floating system of currency has been maintained, with the central bank (Riksbank) intervening when necessary to stabilize the krona's value.

The Swedish Krona is ranked as the eleventh most traded currency in the world. The most popular Swedish Krona exchange rate is Swedish Krona to Euro. Other currency pairs involving the currency include USDSEK, SEK/AUD, EURSEK, SEK/GBP, SEK/CAD, SEK/DKK, SEK/NOK and SEK/INR. The currency is issued in both coins and banknotes with banknotes denominations ranging between 20 and 1,000 krona, while the coins values lie between 1 and 10 krona. Though Sweden is a member of the European Union, it is opposed to adopting the Euro and opted to join ERM II, a precondition to adopting the Euro.

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