Exchange rate SEK - Swedish krone

Swedish krona

The Swedish krona (SEK) is the official legal tender of Sweden. It is divided into 100 øre. However, the hundredths have already been withdrawn from circulation and are only valid for non-cash settlements. When writing it, Swedes often use the abbreviation kr.

The Swedish krona - where is it used?

The Swedish krona is the official currency only in Sweden. When travelling to this country or carrying out trading, for example, it's worth checking the SEK exchange rate. Moreover, in many places in Sweden, the euro is also widely accepted, even though Swedes rejected the introduction of the common currency in an official referendum. Nevertheless, it is always recommended to check the Swedish krona's current exchange rate and buy it before you go to Sweden.

The history of the Swedish krona

The Swedish krona has been used in Sweden since 1873 when it replaced the riksdaler. In 1976 a monetary union of four countries - Sweden, Denmark, Norway and Iceland - brought about the change. Today each country has its own, separate crowns (English word for krona). The Scandinavian monetary union broke up in 1914. Interestingly, the name riksdaler, a coin first minted in 1604, has remained in everyday speech to this day, and this is how Swedes call their currency. For many years the Swedish krona (SEK) exchange rate was pegged to other currencies. During the interwar period, the SEK exchange rate was tied to the British pound. Later, for several decades (until 1973) it was pegged to the U.S. dollar.

The Swedish krona - key information

One Swedish krona (SEK) is subdivided into 100 øre. However, hundredths are no longer in circulation. They only appear in non-cash settlements. When paying in cash, the price of products is rounded to the nearest krona. Swedes' wallets are clanking with coins in denominations of 1, 2, 5 and 10 kroner. There are also banknotes with 20, 50, 100, 200, 500 and 1000 SEK denominations. They feature children's author Astrid Lindgren (20), writer, composer and singer Evert Taube (50), actress Greta Garbo (100), director Ingmar Bergman (200), opera soprano Birgit Nilsson (500) and former UN Secretary-General Dag Hammarskjöld. There used to be 10,000 bills, but they were withdrawn from circulation in 1991.

Check SEK exchange rate before your travel

Sweden is one of the most popular destinations for both European tourists and seasonal workers. Therefore, buying Swedish krona or checking SEK current exchange rate is not a problem. SEK is available in the majority of large exchange offices. Using the currency converter on our website makes it easy to convert local prices and check the exchange rate. The Swedish krona, or rather its quotations, are strongly dependent on the Swedish economy's condition, which is based on the extraction of iron ore. Thus, their prices may have an impact on the SEK exchange rate.