Krona
| Swedish Krona Banknotes | |
|---|---|
| Denomination | Portrait |
| 20 | Selma Lagerlöf |
| 50 | Jenny Lind |
| 100 | Carolus Linnaeus |
| 500 | King Charles XI (front) |
| Christopher Polhem (back) | |
| 1000 | King Gustav Vasa |
| Swedish Krona Coins | |
| 1 Krona (2001) | |
Krona is the name of the currency used in Sweden. The plural form is kronor and one krona is divided into 100 öre, singular and plural. The ISO 4217 code is SEK.
The introduction of the Krona, which replaced the Riksdaler as the country's legal tender, was a result of the Scandinavian Monetary Union, which came into effect in 1873 and lasted until the First World War. The parties to the union were the Scandinavian countries, where the name was Krona in Sweden and Krone in Denmark and Norway, which in English literally means Crown. After dissolution of the monetary union Sweden, Denmark and Norway all decided to keep the name of their respective and now separate currencies.
By tradition the 1 Krona coins carry the head of current monarch and one of the Coats of Arms of Sweden, or a Crown, on the reverse side. The Royal motto of the monarch is also inscribed on the coin.
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The exchange rate of the Swedish Krona against other currencies has historically been dependant on the monetary policy pursued by Sweden at the time. Since November 1992 a managed float regime has been upheld. On October 17, 2003 the exchange rate against was 7.7295 against the United States dollar, 8.9850 against the Euro and 12.915 against the British pound.
Exchange Rate
| USD | Date |
|---|---|
| 10.4381 | 2002 |
| 10.3291 | 2001 |
| 9.1622 | 2000 |
| 8.2624 | 1999 |
| 7.9499 | 1998 |
| 7.6349 | 1997 |
| 6.7060 | 1996 |
