SEKSwedish KronaSwedish Krona (SEK)
The Swedish krona is Sweden's national currency and a major independently floating Nordic currency within the European Union.
- ISO code
- SEK
- Symbol
- SEK
- Region
- Europe
- Currency type
- Fiat currency
- Exchange system
- Sveriges Riksbank issues krona banknotes and conducts Swedish monetary policy independently of the euro area.
- Last reviewed
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Quick facts
SEK at a glance
Currency profile
How SEK works
The Swedish krona is Sweden's national currency and a major independently floating Nordic currency within the European Union.
Sveriges Riksbank issues krona banknotes and conducts Swedish monetary policy independently of the euro area.
- SEK is formally divided into 100 ore, although ore coins no longer circulate.
- The krona was introduced through the Scandinavian Monetary Union and later continued as Sweden's independent unit.
Context
Why this currency matters
SEK combines the legacy of a Scandinavian shared monetary standard with modern independent central banking. Sweden's close EU trade ties but continued use of the krona make the currency important for comparing Nordic costs without assuming that every EU economy uses the euro.
Monetary framework
Exchange arrangement
Sveriges Riksbank issues krona banknotes and conducts Swedish monetary policy independently of the euro area.
CurrencyHub shows daily reference rates. Banks, card networks, ATMs and transfer providers may apply different exchange rates, fees or spreads.
History timeline
Key dates for SEK
Sveriges Riksbank founded
Sweden established the institution that became the world's oldest operating central bank.
Sveriges Riksbank - historyKrona introduced
Sweden adopted the krona through the Scandinavian Monetary Union, replacing the riksdaler.
Sveriges Riksbank - historyKrona allowed to float
Sweden abandoned the fixed exchange rate and allowed the krona to float.
Sveriges Riksbank - history
Usage and economy
How SEK is used
- Prices, payroll and payments across Sweden.
- Nordic and European comparisons with NOK, DKK, EUR and ISK.
Country currency guides
Banknotes and coins
SEK currency units
Sveriges Riksbank publishes the banknotes that are valid for Swedish payments.
Sveriges Riksbank documents the krona coins in circulation and the withdrawal of ore coins.
One Swedish Krona unit is recorded with 2 decimal places and uses Ore as its minor unit.
Related currencies
Currency relationships
Explore currencies connected through regional use, trade comparisons or monetary relationships.
FAQ
SEK questions
Why does Sweden use SEK instead of EUR?
Sweden remains an EU member with its own national currency and has not adopted the euro.
What currency did the Swedish krona replace?
The krona replaced the riksdaler when Sweden joined the Scandinavian Monetary Union in 1873.
Are Swedish ore coins still used?
No ore coins circulate today, although 100 ore remains the formal accounting subdivision of one krona.
Sources
Data and editorial review
Rate source: Frankfurter
Last reviewed:
Currency identity and cash information is checked against central-bank, government, ISO and official international sources.