The currency of Sweden is the kroon. International designation - SEK. This monetary unit is one of the most stable in the world to inflation, although its rate cannot be called rigid: since the beginning of the 90s it has been in a floating mode.
Swedish currency: history of occurrence
The Crohn was put into circulation in 1873. Then the Scandinavian countries of Sweden, Norway and Denmark created a monetary union and total money. The Swedes called them Krona, the Norwegians and Danes - Krone. This word is translated as "crown". Prior to this, the country used rigsdealers. The monetary union lasted until the First World War, during which the union broke up, but all the Scandinavian states left the familiar name and applied it to their national currencies.
The history of SEK in the 20th century
From 1973 to 1977 Sweden participated in the system of narrowed corridors of deviations of the mutual exchange rates of the Common Market member states, although at that time it was not a member of the EU. After leaving this association, the country pegged the crown to the monetary units of its 15 most important partners. The course fluctuated depending on the financial policies of Sweden. In the late 70s and early 80s of the 20th century, the country experienced a sharp economic recession, as a result of which the government was forced to devalue the kroon by 16%. This event remained in the history of the Swedish economy as the “Big Bang”, and it signified a new beginning for the financial system of the state. In November 1992, another significant event occurred for the currency system. A floating rate was introduced, which remains to this day and equals approximately 1/10 euro.
One of the most important advantages and part of the history of any state is currency. Sweden currently does not accept the euro, it was not attractive to the Scandinavians. Therefore, in the 2000s, they refused to switch to a single currency of the Old World.
Banknotes and coins until 2015
In circulation, until recently, banknotes with a face value of 20 to 1000 units were used. The obverse of the notes depicted famous personalities of Sweden. Writer Selma Lagerlöf is placed on a banknote of 20 kroons; 50 - Jenny Lind - opera singer, known worldwide as the “Swedish Nightingale”; 100 - Karl Linney - a world renowned physician and naturalist; 500 - Charles XI - king of the second half of the 17th century, strengthening the state and its position in Europe; 1000 - Gustav Vasa - the liberator of Sweden from Danish rule. In addition to paper money, SEK is represented by coins in denominations of 1, 5, 10 and 50 era. 1 crown consists of 100 era.
Monetary reform
In 2011, the Bank of Sweden announced its intention to carry out a new monetary reform, the purpose of which was to completely change the type of banknotes and coins, as well as to strengthen protection against fraud. The result was the release of new money, recognized as one of the most beautiful and highly protected in the world. As expected, on the obverse of the banknotes were images of prominent cultural figures of Sweden of the 20th century: 20 kroons - writer A. Lindgren; 50 - E. Taube - songwriter and performer; 100 - actress G. Garbo; 200 - I. Bergman - outstanding film director (new face value of Swedish banknotes); 500 - singer of the opera scene B. Nilsson; 1000 - D. Hammerskjöld, who was the gene. Secretary of the United Nations in 1953-1961.
The reverse of banknotes depicts historical areas associated with the activities of persons shown on the obverse. The coins were also affected by the reform, as a result of which nickel was removed from the alloy, which made them lighter, and their size also changed. King Charles XVI Gustav is depicted on the obverse, and a natural theme (water, sun and wind) is depicted on the reverse. A coin of 10 kroons remained unchanged.With regard to the old-style currency, we note that the entire series of banknotes will be a full legal tender until mid-2017.
Currency exchange
When traveling to the Scandinavian countries, ask what currency is in Sweden and neighboring countries. Although, of course, there are a large number of banks, credit organizations, exchange offices and terminals throughout the country where you can exchange almost any money in the world for kroons. But be careful, when exchanging in banks there will be a very disadvantageous rate. Therefore, it is preferable to resort to the services of exchange offices. Here, too, there is a certain feature - a commission of two types: in some it is calculated from the convertible amount as a percentage, in others it is represented by a fixed fee.
Crohn and the Eurozone
Sweden has been a member of the EU since 1995, therefore, upon reaching certain characteristics in the economic life of the state, it must join the eurozone and replace its currency with a pan-European one. Neither the people nor the authorities of the country have a special desire for this. The referendum showed that most of the population for the SEC to remain the only means of payment. And the question, what is the currency of Sweden, now and in the near future can be answered without a doubt - the crown. Although in our time, events are developing at a rapid pace, and even in the future, one cannot be 100% sure.
Against the background of frantic jumps in prices of many world financial instruments, the Swedish currency is calm, confident and promising. The country remains as if aloof from the economic turmoil in the eurozone, as It uses its own currency, which may even allow it to withdraw into domestic trade and wait until the EU countries either come out of the crisis or come to a financial collapse.
