Swedish Krona

About The Swedish Krona: The Currency of Sweden

Quick Facts About the Swedish Krona Notes

Country of Origin	Sweden
Symbol	kr
Currency Code	SEK
Nick Names	Swedish crown
Minor units	öre
Denominations (Banknotes)	20 kr, 50 kr, 100 kr, 200 kr, 500 kr and 1000 kr
Motto
Identification Feature	The 1,000 kronor features an obverse side with the images of following: Dag Hammarskjöld, United Nations Secretariat building, the flag of the United Nations and three crowns
Issuing Bank	Sveriges Riksbank
In Circulation Since	1873
INR Exchange Rate	8.3498 🔄

The Swedish krona is the country's official unit of currency. The ISO code "SEK" is used quite frequently, and it can appear either before or after the value; the Swedish krona symbol "kr" normally appears after the value. On the global foreign exchange (Forex) market, it is one of the currencies that sees the largest volume of daily trading activity. The Swedish riksdaler was Sweden's official currency until 1873 when it was replaced by the krona, which literally translates to "crown."

The live Swedish Krona rate is INR (8.3498 🔄) . You can keep an eye on the real-time Swedish Krona price.

History of the Swedish Krona

Let’s learn about Swedish Krona history. The introduction of the krona in 1873 to replace the riksdaler was a direct consequence of the Scandinavian Monetary Union, which began in 1876 and continued until the beginning of World War I. This union lasted until 1914. The members of the union all utilised their respective versions of the krone as their currency. The Swedish krona and the Danish and Norwegian krone both have names that literally translate to "crown."

The monetary practices of Sweden have a significant impact on the value of the country's currency, which is called the crown. The Sveriges Riksbank, which serves as both the country's and the world's central bank, is the oldest such institution in existence. Since 1992, when Sweden initially implemented a floating exchange rate for the SEK, the Sveriges Riksbank has only seldom intervened, allowing the currency to freely fluctuate against other foreign currencies. This policy has been in place ever since.

Sweden is one of the few member states of the European Union that has decided to keep its previous currency rather than adopt the euro. Despite the fact that the Treaty of Maastricht holds Sweden responsible for future conversion to the euro, a referendum in 2003 revealed that 56% of respondents were opposed to the new currency. Since then, the Swedish government has delayed joining by avoiding particular necessary monetary requirements that would mandate adoption.

Countries Accepting the Swedish Krona

Amount in the Swedish Krona You Should Carry for Your Trip

If you are thinking of taking a trip to Sweden for holiday, there are a few specifics that you need to keep in mind. These include the prices of flights and accommodations, as well as the many modes of public transportation and cuisines that are available in Sweden.

When travelling on a limited budget, a person will need an average of kr494 each day. On the other hand, the total cost of your trip may go as high as kr2,827 if you chose to stay in luxurious accommodations and eat at upscale restaurants throughout your travels. The expense of a trip to Sweden for a couple might range anywhere from kr1,000 to kr7,000 on average.

The nightly rate of a hotel room in Sweden for 1 person can range anywhere from kr244 to kr1,320. Depending on whether you take a taxi, the bus, or some other type of public transportation, the cost of commuting in this area might range anywhere from kr67 to kr340.

You can check the Swedish Krona rate today in order to plan a cost-effective vacation. Let’s move on to learn about the best place to buy Swedish Krona.