Sweden Currency

Sweden Currency:

Sweden currency is referred to as the Krona or Kronor. Currency of Sweden is represented by the symbol "SEK". Sweden currency consisting of Krona is subdivided into 100 ore. The official Sweden currency was Riksdaler till 1873. Riksdaler was replaced by Krona when Sweden, along with Norway and Denmark, became associated with the Scandinavian Monetary Union. Scandinavian Monetary Union was functional till the First World War. Thereafter, the member countries introduced their own national currencies. Krona was introduced as the currency of Sweden. Euro is used simultaneously with Krona. Swedish money Krona, was associated with European Currency Unit in 1991. In spite of being an active participant of the European Union, Swedish money enjoyed an autonomous position.

Sweden currency banknotes and coins:

Sweden currency is available in coins as well as banknotes. Banknotes were introduced in 1874 by Riksbank. 1 Krona was used only for a limited period of time. But 1 Krona bank note was re-circulated between 1914 through 1920. 10,000 Krona banknotes were introduced between 1939 through 1958.

Coins:

Sweden coins are available in denominations of 50 ore, SEK1, SEK5 and SEK10. The Sweden currency consisting of banknotes are available in denominations of SEK20, SEK50, SEK100, SEK500, SEK1000, and SEK10000. Coins of denominations 50 ore, 25 ore, 10 ore, 5ore, 2ore and 1 ore were introduced during the period 1873 to 1876. % Kronor made of gold was launched in the year 1881.

Exchange rates for Sweden Currency:

Exchange rates are an important factor determining the value of any currency. Exchange rates are a measure of the demand and supply of any currency in a country. The demand and supply of any country is decided by the prevailing economic conditions in Sweden. In the year 2000, exchange rate for Sweden currency, Krona was SKr8.4831 against USD$1. In 1995, the exchange rate was SKr 7.133. Skr 6.7060 was the exchange rate in 1996.