The Kingdom of Sweden, the state of Scandinavia, joined the European Union twenty years ago. But today, the Swedish krona, the national currency of the country, continues to “walk” in the country. Banknote values - from 20 to 1000 SEK. Along with her use the euro. Today, Sweden is one of the countries with the most stable economies; accordingly, Swedish krona is also considered a strong currency.
The appearance of the crown
At the time of joining the European Union, the majority of the country's inhabitants voted to keep Swedish krona in use, but not to have the euro.
Swedish krona is the monetary unit of the same name country. At the beginning of the XVI century, the means of payment in this state were called Riksdaler. They became money at the very beginning of the XVII century, while the cost was not indicated and was prescribed by hand.
The end of the 19th century was marked by the emergence of the Monetary Union of the Scandinavian countries. It also included Denmark and Norway. So there was a krone, a new name for the currency of the Swedes. The start of the First World War put an end to unification, the Union collapsed, but the names of the country's national currencies remained.
Translated "crown" is a crown. Therefore, it is depicted on most coins of this country. It is believed that this money is one of the most beautiful.
In the 50s of the 20th century, the exchange rate of Swedish money was tied to the value of the US dollar. At the end of the 80s of the 20th century, the National Bank formed the national money rate based on the indicators of a multi-currency basket.
The exchange rate of the Swedish krona to the American dollar today is about 8.42 kroons.
Denominations of notes and coins
Residents of the country designate their money as kr.
Global spelling - SEK.
In one crown a hundred era.
Today in everyday life there are bills:
- 20 crowns. One side is the author of a large number of fairy tales Selma Lagerlef. On the other hand, Niels, the hero of one of her books.
- 50 crowns. On the banknote you will find Jenny Lind (opera singer).
- 100 crowns. Image of Karl Linnaeus.
- 500 kroons: depicts the ruler Karl XI and the inventor from Sweden and the industrialist Christopher Polham.
- 1000 kroons: view of Gustav Vasa, ruler of Sweden.
Coins exist 1, 5, 10 SEK.
At the beginning of last year, the National Bank of the country decided to make adjustments to the image and the value of the currency. The result was the appearance of a banknote of 200 SEK and a coin of 2 SEK.
The bank announced the appearance of notes with new types. According to rumors, banknotes will depict portraits of three women and three men. With this, the bank wants to demonstrate gender equality.
Is it worth taking cash
Today, Sweden is considered a wealthy country with a stable economy and political structure. As a result of this, its currency is perhaps the most reliable.
As already mentioned, the country joined the European Union, but its citizens did not recognize the euro and decided that they would continue to use their currency. The euro, however, remained as a means of payment.
In Sweden, a plastic card will be accepted everywhere. In addition, the country has a large network of ATMs operating around the clock. If you urgently need to withdraw an amount not exceeding SEK 2,000, this is done at the cash desk of any store when paying for goods with a card. It is only important here to remember the exchange rate of the Swedish krona to the ruble in order to calculate how much is deducted from your card in ruble terms.
Circulation in the euro country
If you don’t have a card, go to Sweden with European currency. Most shops, catering establishments, hotels will accept euros, especially if located in tourist areas. But know: the cost of the commission will be unprofitable, so the Swedish krona to the euro is an unprofitable exchange if you change it in the institution itself.
In order for the rate to be profitable, change the currency at the exchange points. True, to date, not all banks make this exchange.
Exchange offices are in every city. Opening hours from 07-00 to 19-00 every day, seven days a week. Whereas credit institutions work only on weekdays and only until 15-00.
Import and export
You can import and export any type of currency into the country unlimitedly.
You can also export foreign currency from the country without restrictions. But Swedish kronor is allowed to export no more than 6,000.
Rate
The dynamics of the Swedish krona to other currencies changes every day. Therefore, if you are going to Sweden, before the trip, check their ratio again.
Today 10 SEK is equal to 1.2 US dollars. Or one crown is equal to 0.12 US dollars.
Swedish krona to the ruble: today for 9.3 rubles you can buy one Swedish krona.
One krone is equivalent to 0.11 European currencies. And for one euro they will give 9.5 kroons.
Therefore, the Swedish krona to the euro is the best exchange option.
Krone and ruble
The exchange rate of the SEK to the Russian ruble is floating. So, if on January 1, 2016, the rate was 8.67 rubles. for 1 crown, then today the growth amounted to 9.3 rubles. for 1 SEK. It should be borne in mind that these values can be different at the beginning and at the end of the trading day. The Swedish krona to the ruble is thus strengthening. This suggests that the ruble is losing its position not only to common currencies, but also to all others.
Crown power
According to world analysts, the Swedish krona is almost the most stable currency. This is because Sweden is a country where the economy is very strong, where the government strictly monitors the level of public debt, trade balance and budget.
The monetary policy of other states, according to experts, has many shortcomings that the rulers want to close by issuing new bills. This fact negatively affects the stability of the national currencies of such countries, while also benefiting the currency of Sweden.
Recently, the kroon rate has strengthened significantly against the Japanese yen.
Today, Sweden adheres to a floating exchange rate, which fluctuates based on the situation in the foreign exchange and stock markets.
Course stability
SEK is in the ten most popular currencies that are used in international payments. Moreover, it is considered the most highly liquid currency, the turnover of trade in the foreign exchange market is about $ 30 billion.
The national currency of Sweden is in the list of seventeen currencies that are part of the CLS payment system. This system was created primarily to eliminate market risk, which is associated with operations in the foreign exchange market (the so-called Hertstatt risk).
Most experts agree that, together with the Canadian and Australian dollars, Danish and Swedish kronas are today the most stable and predictable currencies.
Swedish kroner is heavily dependent on government policies for economics and finance. It was previously mentioned that in the early 1990s, a floating rate was established. And until 2002, he remained so in relation to all currencies. But after that, until the next crisis of 2008, he remained stable in relation to the euro.
The results of the crisis: a decrease in the interest rate by the National Bank. As a result, the krona lost about 20% in price. No attempts were made to strengthen her bank. This was done to weaken the national currency and lower export prices, which increased its competitiveness.
Today, the value of the Swedish krona is growing. This is affected by economic stability, a budget surplus and a decrease in public debt.