Krona currency of which country

The Swedish krona is the official currency of Sweden. The Riksbank the Central Bank of Sweden offers an application process for the redemption of all invalid Swedish banknotes, regardless of their age.

SEK is the currency code for the Swedish krona, the official currency for the country of Sweden. Since autumn , the exchange rate for the Swedish krona has been floating.

Cite de l'Economie et de la Monnaie. Sveriges Riksbank. The Swedish experience with negative central bank rates in Encyclopedia Brittanica. Actively scan device characteristics for identification. Use precise geolocation data. Select personalised content. Create a personalised content profile. Measure ad performance. Select basic ads. Create a personalised ads profile. Select personalised ads. Apply market research to generate audience insights. Measure content performance. Develop and improve products.

List of Partners vendors. Your Money. Personal Finance. Your Practice. Popular Courses. Table of Contents Expand. Understanding the SEK. Correlations of the SEK. SEK Coins and Bills. Example of Exchange Rate Conversion. Swedish Currency FAQs. Key Takeaways The Swedish krona is the official currency of Sweden. The currency code for the krona is SEK, and the abbreviation is kr.

While Sweden is expected to adopt the euro at some point, there is little urgency as the Swedish population is not in favor of switching currencies. The e-krona is a digital version of the krona, used via an app, and is expected to phase out the use of cash. Article Sources. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts.

We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy. Compare Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear.

Investopedia does not include all offers available in the marketplace. It is pegged to the euro. The USD is the abbreviation for the U. What Is a Currency Basket? A currency basket is comprised of a mix of several currencies with different weightings. Develop and improve products. List of Partners vendors. In the foreign currency exchange marketplace, SEK is the abbreviation for the Swedish krona which is the national currency of Sweden.

It is among the top currencies currently trading in the world Forex FX market. The krona, which means crown in Swedish, has been Sweden's currency since and is also expressed by the symbol KR. It replaced the Swedish riksdaler. The exchange rate of SEK depends heavily on the monetary policy of Sweden. The country's central bank is known as the Sveriges Riksbank, the world's third oldest bank, and the oldest central bank. In , Sweden implemented a floating exchange rate for SEK, and it has been allowed to float against other currencies since then, with the Sveriges Riksbank occasionally intervening to stabilize the krona.

While most countries in the European Union have adopted the euro , Sweden, like Denmark and Norway, is one of a handful of EU member nations that have opted to maintain their legacy currencies. The government has said it will not bring a new referendum on the issue until it has sufficient popular support, but the appetite for the euro has only decreased.

Although there is still occasional debate on the subject, it appears there are no plans for conversion anytime soon.

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. Still, global uncertainties, especially during threats of an international trade war, have led to some losses for the safe-haven krona over the last four years.

A looser economic policy has led to overall weakness in the Swedish krona in the four years from to Although many expect the krona to eventually rebound strongly, some have called for a switch to the euro given the krona's global sensitivity.

Sveriges Riksbank. Swedish Institute for European Policy Studies. Accessed May 25, Your Privacy Rights. To change or withdraw your consent choices for Investopedia.

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