The Swedish krona is made up of 100 öre and is often presented with the symbol “kr.” 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.

1. Other countries also have currencies that are called “crown.” In Norway, the currency unit is known as the krone.
2. Wise is a Money Service Business registered with FinCen.
3. These are the best ones to focus on, as there are a lot of people searching for them and not a lot of relevant content crafted around them.
4. In 1939, a few days before the start of WWII, Sweden had pegged the krona to the U.S. dollar.
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Compare our rate and fee with our competitors and see the difference for yourself. The U.S. dollar is the currency most used in international transactions. Several countries use the U.S. dollar as their official currency, and many others allow it to be used in a de facto capacity. SEK is the currency https://bigbostrade.com/ code for the Swedish krona, the official currency for the country of Sweden. The krona, which means “crown” in Swedish, has been Sweden’s currency since 1873 and is also expressed by the symbol KR. Production of the 5-kronor note ceased in 1981, although a coin had been issued since 1972.

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A new 5-kronor coin was designed in 1974, at a time when there were political efforts to abandon the monarchy and the young inexperienced king.[citation needed] The monarchy remained, but the 5-kronor was not given a portrait. Coins minted before 1974 have the same size, but contain the portrait of King Gustav VI Adolf and his royal motto. Kristy Snyder is a professional writer and editor living in Pittsburgh with over 10 years of content creation experience.

Convert from United States Dollar (USD) to Swedish Krona (SEK)

Our currency rankings show that the most popular Canadian Dollar exchange rate is the CAD to USD rate. You can send a variety of international currencies to multiple countries reliably, quickly, and safely, and at a rate cheaper than most banks. Our currency rankings show that the most popular US Dollar exchange rate is the USD to USD rate. The krona, which means crown in Swedish, has been Sweden’s currency since 1873 and is also expressed by the symbol KR. Sweden abandoned the öre coin, so prices are typically rounded up to the nearest krona.

SEK to USD History Rates by Year

For a discussion of the financial and banking crisis that hit Sweden in the early 1990s see the article History of Sweden (1991–present) and Swedish banking rescue. When the banknote is tilted, the picture in the striped band appears to move.[27] The Vasa banknote without security thread became invalid after 31 December 2013 at which time there was only 10 million in circulation. The Vasa banknotes with the security thread became invalid best uk stocks after 30 June 2016 at which time there was under 4 million in circulation. Replacement banknotes featuring Dag Hammarskjöld became valid on 1 October 2015, but were circulated in considerably fewer quantities (less than 3.5 million), thus reducing the supply of cash in Sweden. In 1968, the 2-kronor switched to cupronickel and the 1-krona switched to cupronickel-clad copper (it was replaced entirely by cupronickel in 1982).

As of 2019 Sweden was still circulating more cash per person (converted to USD) than Argentina, Brazil, Turkey, India, Indonesia, and South Africa. To see where Swedish krona ranks in “most traded currencies”, read the article on the Foreign exchange market. An exhaustive list of every banknote design since 1874 is not included, but the following five designs were or will be retired in 2016–2017. If you’re advertising on Google, it assigns your ads a Quality Score on a scale from 1 to 10. Higher scores are more relevant to users, and therefore, are more likely to have higher click-through rates (CTRs).

Top currency pairings for Swedish krona

With the introduction of a 10-krona coin in 1991, production of 10-kronor notes ceased and a 20-kronor note was introduced. In 1874, notes were introduced by the Riksbank in denominations of 1 krona and 5, 10, 50, 100 and 1,000 kronor. The 1 krona was only initially issued for two years, although it reappeared between 1914 and 1920. In 1939 and 1958, 10,000-kronor notes were issued. In 1902, production of gold coins ceased, and was briefly restarted in 1920 and 1925 before ceasing entirely.

The E-krona hasn’t officially been adopted because cash is still in use in the country. However, in the future, it’s possible that cash payments will be eliminated altogether. The Scandinavian Monetary Union was a fixed exchange rate system—based on the gold standard—between Sweden and Denmark. While member countries still had their own currencies, the Union ensured exchange rate stability.

Wise is a Money Service Business registered with FinCen. In other states, the program is sponsored by Community Federal Savings Bank, to which we’re a service provider. However, over the next few years, the Swedish economy floundered, and, in 2014, the Riksbank once again dropped the target rate to zero. In 2015, it announced a repo rate of −0.10%, which was further lowered to −0.50% in 2016, a level that was maintained through January 2019 when the rate was raised to −0.25%. By December 2019, rates once again returned to zero.

The third design with portrait of Jöns Jacob Berzelius (printed 1976–1988) and declared invalid on 31 December 1998. A 100-kronor banknote (3rd design since 1898) was printed 1986–2000 with a portrait of the botanist Carl Linnaeus and on the reverse was a drawing of a bee pollinating a flower. The banknote became invalid after 31 December 2005. A more secure version with the same portrait was introduced in 2001 and became invalid after 30 June 2017. A 50-kronor banknote (3rd design since 1896) was printed 1996–2003 with a portrait of the singer Jenny Lind and on the reverse was a picture of a silver harp and its tonal range.

The Xe Rate Alerts will let you know when the rate you need is triggered on your selected currency pairs. These percentages show how much the exchange rate has fluctuated over the last 30 and 90-day periods. These are the lowest points the exchange rate has been at in the last 30 and 90-day periods. These are the highest points the exchange rate has been at in the last 30 and 90-day periods. Investopedia does not provide tax, investment, or financial services and advice. The information is presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors.