Swedish krona svensk krona (Swedish)
ISO 4217 Code	SEK
User(s)	Sweden
Inflation	3. ISO 4217 is the International standard describing three-letter codes (also known as the currency code) to define the names of currencies established "Sverige" redirects here For other uses see Sweden (disambiguation and Sverige (disambiguation. In economics inflation or price inflation is a rise in the general level of prices of goods and services over a period of time 4%
Source	Sveriges Riksbank, April 2008
Method	CPI
Subunit
1/100	öre
Symbol	kr
Nickname	spänn
Plural	kronor
öre	öre
Coins	50 öre, 1, 5, 10 kronor
Banknotes	20, 50, 100, 500, 1000 kronor
Central bank	Sveriges Riksbank
Website	www.riksbanken.se
Printer	Tumba Bruk
Website	www.tumbabruk.se

The krona (currency code SEK) has been the currency of Sweden since 1873. CPI redirects here For other uses see CPI (disambiguation. A consumer price index ( CPI) is a measure of the average price of consumer Öre is the one-hundredth subdivision of the Swedish krona Currency unit A currency sign is a graphic symbol often used as a shorthand for a Currency 's name Plural is a Grammatical number, typically referring to more than one of the Referent in the real world Öre is the one-hundredth subdivision of the Swedish krona Currency unit A central bank, reserve bank, or monetary authority is the entity responsible for the Monetary policy of a country or of a group of member states Sveriges Riksbank, or simply Riksbanken, is the Central bank of Sweden and the world's oldest central bank A printer is a company that provides commercial Printing services often also offering Typesetting and Book-binding services Tumba Bruk is the printing company responsible for manufacturing of the Swedish krona banknotes ISO 4217 is the International standard describing three-letter codes (also known as the currency code) to define the names of currencies established A currency is a unit of exchange, facilitating the transfer of Goods and/or services It is one form of Money, where money is "Sverige" redirects here For other uses see Sweden (disambiguation and Sverige (disambiguation. It is locally abbreviated kr. The plural form is kronor and one krona is divided into 100 öre (singular and plural). Öre is the one-hundredth subdivision of the Swedish krona Currency unit The currency is sometimes informally referred to as the "Swedish crown" in English language. The Swedish krona unofficially circulates in some places of the Åland Islands alongside the official currency, the euro. Please update other articles as well to avoid contradiction within Wikipedia e

History

The introduction of the krona, which replaced at par the riksdaler riksmynt, was a result of the Scandinavian Monetary Union, which came into effect in 1873 and lasted until the First World War. Par value, in Finance and Accounting, means stated value or face value. The riksdaler was the name of a Swedish coin first minted in 1604 The Scandinavian Monetary Union (Skandinaviska myntunionen Skandinaviske møntunion Skandinaviske myntunion was a Monetary union formed by Sweden and Denmark World War I (abbreviated WWI; also known as the First World War, the Great War, and the War to End All 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. Terminology and usage As a cultural term "Scandinavia" has no official definition and is subject to usage by those who identify with the culture in question as well The Kingdom of Denmark ( ˈd̥ænmɑɡ̊ (archaic ˈd̥anmɑːɡ̊ commonly known as Denmark, is a country in the Scandinavian region of northern Europe Norway ( Norwegian: Norge ( Bokmål) or Noreg ( Nynorsk) officially the Kingdom of Norway, is a Constitutional The three currencies were on the gold standard, with the krona/krone defined as ¹⁄₂₄₈₀ of a kilogram of pure gold. The gold standard is a monetary system in which a region's common media of exchange are paper notes that are normally freely convertible into pre-set fixed quantities of Gold

After dissolution of the monetary union, Sweden, Denmark and Norway all decided to keep the names of their respective and now separate currencies. The Kingdom of Denmark ( ˈd̥ænmɑɡ̊ (archaic ˈd̥anmɑːɡ̊ commonly known as Denmark, is a country in the Scandinavian region of northern Europe Norway ( Norwegian: Norge ( Bokmål) or Noreg ( Nynorsk) officially the Kingdom of Norway, is a Constitutional

Coins

Between 1873 and 1876, coins in denominations of 1, 2, 5, 10, 25 and 50 öre, 1, 2, 10 and 20 kronor were introduced, with the 1, 2 and 5 öre in bronze, the 10, 25 and 50 öre and 1 and 2 kronor in silver and the 10 and 20 kronor in gold. Gold 5 kronor were added in 1881.

Production of gold coins ceased in 1902 and was only briefly restarted in 1920 and 1925 before ceasing entirely. Due to metal shortages during World War I, iron replaced bronze between 1917 and 1919. World War I (abbreviated WWI; also known as the First World War, the Great War, and the War to End All Nickel-bronze replaced silver in the 10, 25 and 50 öre in 1920, with silver returning in 1927.

Metal shortages due to World War II again lead to changes in the Swedish coinage. World War II, or the Second World War, (often abbreviated WWII) was a global military conflict which involved a majority of the world's nations, including The nickel-bronze 10, 25 and 50 öre were again issued between 1940 and 1947. In 1942, iron again replaced bronze (until 1952) and the silver content of the other coins was reduced. In 1962, cupro-nickel replaced silver in the 10, 25 and 50 öre coins, with, in 1968, the 2 kronor following suit and the 1 krona switching to cupro-nickel-clad copper (replaced by cupro-nickel in 1982). 5 kronor silver coins were produced in 1954, 1955 and 1971, with designs similar to contemporary 1 and 2 kronor coins.

In 1971, the 1 and 2 öre and 2 kronor coins ceased production and the size of the 5 öre coin was reduced. In 1972, a new smaller 5 kronor coin was introduced, struck in cupro-nickel-clad nickel. The current design has been produced since 1976. In 1984, production of the 5 and 25 öre coins came to an end, followed by that of the 10 öre in 1991. Also in 1991, aluminium-brass 10 kronor coins were introduced whilst, in 1992, bronze coloured 50 öre coins were issued. Recently there have been calls to scrap the 50 öre coins, mostly because of low purchasing power and due to the fact that the coins cannot be used in most parking machines and vending machines.

Coins currently in circulation are:

Of the other denominations issued in the past, all 2 kronor minted from 1868 onwards remain legal tender,^[5] although these are extremely rarely seen in circulation. In addition, all jubilee and commemorative coins minted in 1897 or later are also legal tender. ^[6] The 2 kr coins contained 40% silver until 1966, which meant that they already several years ago were worth much more than 2 kr, so most have been bought and melted down by arbitrageurs, and the rest are kept by collectors. Silver (ˈsɪlvɚ is a Chemical element with the symbol " Ag " (argentum from the Ancient Greek: ἀργήντος - argēntos gen In Economics and Finance, arbitrage is the practice of taking advantage of a price differential between two or more Markets striking a combination of matching Coin collecting is the Collecting or trading of Coins or other forms of legally minted currency It is not legal in Sweden to melt down coins that are legal tender, which is why they still are legal.

By tradition, coins less than 1 krona do not bear the monarch's effigy, whilst those of 1 krona and above do (the current 5 kronor coin being the only exception). The monarch is the Head of state of the Kingdom of Sweden. Sweden being a Constitutional monarchy with a Representative democracy based on a An effigy is a representation of a person especially in the form of Sculpture. The royal motto of the monarch is also inscribed on many of the coins. The Royal mottos or Valspråk of the Swedish monarchs has been a tradition since first used by Gustav I of Sweden, in the early 16th century

Banknotes

100 kronor

In 1874, notes were introduced by the Riksbank in denominations of 1, 5, 10, 50, 100 and 1000 kronor. Sveriges Riksbank, or simply Riksbanken, is the Central bank of Sweden and the world's oldest central bank The 1 krona was only initially issued for two years, although it reappeared between 1914 and 1920. In 1939 and 1958, 10,000 kronor notes were issued.

The 5 kronor note was discontinued in 1981, although a coin had been issued since 1972. In 1985, the 500 kronor note was introduced. With the introduction of a 10 kronor coin in 1991, production of 10 kronor notes ceased and a 20 kronor note was introduced. Production of 50 kronor notes was suspended that year but resumed in 1996.

In 2006 the Riksbank introduced a new 1000 kronor note which is the first note to contain the Motion security feature developed by Crane. Crane AB, located in Tumba Sweden, prints all of the kronor banknotes.

Banknotes of the latest series are:

Current Series [1]
Image		Value	Dimensions	Main Colour	Description
Obverse	Reverse				Obverse	Reverse
		20 kronor	130 × 72 mm	Bluish purple	Selma Lagerlöf	Nils Holgersson flying over Scania
		20 kronor	120 × 67 mm
		50 kronor	120 × 77 mm	Yellow	Jenny Lind	Key harp and its tonal range
		100 kronor	140 × 72 mm	Light blue	Carolus Linnaeus	Bee pollinating a flower
		500 kronor	150 × 82 mm	Red-gray	Charles XI	Christopher Polhem
		1000 kronor	160 × 82 mm	Yellow-gray	Gustav Vasa	Olaus Magnus' picture of the Northern Peoples from 1555
These images are to scale at 0. / sèlˈma ʊ̀tiːlɪa lʊ̀viˈsa lɑ̀ːgərˈløːv / (20 November 1858&ndash16 March 1940 was a Swedish Author and the first woman writer to win the The Wonderful Adventures of Nils (Orig Nils Holgerssons underbara resa genom Sverige) is a famous work of fiction by the Swedish author Selma Lagerlöf Scania ( in Swedish and Danish) is a geographical region on the southernmost tip of the Scandinavian peninsula, a traditional province ( Autograf Jenny Lind Goldschmidt Nordisk familjebokpng|thumb|left|Autograph of Jenny Lind after her February 5 1852 marriage to Otto Goldschmidt A nyckelharpa (literally "key harp" plural nyckelharpor or sometimes keyed fiddle) is a traditional Swedish musical instrument Carl Linnaeus (Latinized as Carolus Linnaeus, also known after his ennoblement as, May 23 new style (13 May old style 1707 who laid the foundations for Bees are flying Insects closely related to Wasps and Ants Bees are a Monophyletic lineage within the superfamily Apoidea Pollination in angiosperms and Gymnosperms is the process that transfers pollen grains, which contain the male Gametes (sperm to where the female Charles XI (Karl XI 24 November 1655old style &ndash 5 April 1697old style was King of Sweden from 1660 until his death in an unruly period in Christopher Polhammar ( December 18, 1661 - August 30, 1751) better known as, which he took after his Ennoblement, was Gustav I, born Gustav Eriksson (Colloquial 15th century Upplandic Gösta Jerksson) and later known as Gustav Vasa (12 May 1496 – 29 September Olaus Magnus ( Olaus Magni or Olaus Magni Gothus) was a Swedish Ecclesiastic and Writer, who did pioneering work for the interest of 7 pixels per millimetre, a Wikipedia standard for world banknotes. For table standards, see the banknote specification table.

Recent changes

The parliament of Sweden decided on October 27, 2004, following a proposal from the Riksbank, that some older series of banknotes and coins would cease to be legal tender after December 31, 2005. The Riksdag (officially Sveriges riksdag literally The National Diet of Sweden is the national legislative assembly of Sweden. Events 312 - Constantine the Great is said to have received his famous Vision of the Cross. "MMIV" redirects here For the Modest Mouse album see " Baron von Bullshit Rides Again " Events 406 – Vandals, Alans and Suebians cross the Rhine, beginning an invasion of Gallia. Year 2005 ( MMV) was a Common year starting on Saturday (link displays full calendar of the Gregorian calendar. The banknotes and coins affected were:

• all silver-coloured 50-öre coins.
• the old, slightly larger version of the 20-kronor banknote with the bluish shade.
• the old 100- and 500-kronor banknotes without a foil strip.

None of the banknotes were common in circulation but the two variants of the 50-öre coin were, until 2005, just as common as the bronze coin.

Commercial banks stopped accepting the old 50-öre coin on 30 April 2006 but continued accepting the invalid notes until the end of 2006. Events 313 - Roman emperor Licinius unifies the entire Eastern Roman Empire under his rule Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. Since then, the notes may still be exchanged at the central bank. ^[7] The coins, on the other hand, formally lost their value completely when commercial banks stopped accepting them.

As of March 15, 2006, there are security enhanced versions of the 50- and 1000-kronor banknotes in circulation. Events 44 BC - Julius Caesar, Dictator of the Roman Republic, is stabbed to death by Marcus Junius Brutus, Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar.

Exchange rate

The exchange rate of the Swedish krona against other currencies has historically been dependent on the monetary policy pursued by Sweden at the time. In Finance, the exchange rates (also known as the foreign-exchange rate, forex rate or FX rate) between two currencies specifies how The Monetary policy of Sweden is decided by Sveriges Riksbank, the central bank of Sweden. Since November 1992 a managed float regime has been upheld. Floating rate may also refer to a Floating interest rate applied to a Loan or other lending product ^[8]. It has after 2000 not varied much against the Euro, usually between 9. 1-9. 4 SEK/EUR.

The euro

According to the 1995 accession treaty, Sweden is required to join the eurozone and therefore must convert to the euro at some point. The Treaties of the European Union are a set of international treaties between the Union's member states which sets out the counstitutional basis of the Euro Enlargement of the Please update other articles as well to avoid contradiction within Wikipedia e Notwithstanding this, on 14 September 2003, a consultative Swedish referendum was held on the euro, in which 56% of voters were opposed to the adoption of the currency, out of an overall turnout of approximately 80% (according to the BBC) ^[9]. Events 81 - Domitian becomes Emperor of the Roman Empire upon the death of his brother Titus. Year 2003 ( MMIII) was a Common year starting on Wednesday of the Gregorian calendar. The Swedish government has argued that such a course of action is possible since one of the requirements for eurozone membership is a prior two-year membership of the ERM II. Euro Enlargement of the The European Exchange Rate Mechanism, ERM, was a system introduced by the European Community in March 1979 as part of the European Monetary System (EMS By simply choosing to stay outside the exchange rate mechanism, the Swedish government is provided a formal loophole avoiding the theoretical requirement of adopting the euro.

Some of Sweden's major parties continue to believe that it would be in the national interest to join, but they have all pledged to abide by the results for the time being, and have shown no interest in raising the issue again. There is an agreement among the parties not to discuss the issue before the 2010 general election. After it a debate could start leading towards a new referendum 2012 or later, though it is likely that one would be held considerably later than that. Polls in 2005 and 2006 generally showed about 55 percent of respondents being opposed and 45 percent in favour, not counting those who are unsure (about 15%). In a poll from May 2007, 33. 3% were in favour, while 53. 8% were against, and 13. 0% were uncertain. ^[10]

See also

• Monetary policy of Sweden
• Swedish National Debt Office
• Table of historical exchange rates
• Scandinavian Monetary Union
• Swedish rounding
• Economy of Sweden

References

External links

• Don's World Coin Gallery - Sweden
• Ron Wise's World Paper Money - Sweden ^{Mirror site}
• The Global History of Currencies - Sweden
• Global Financial Data data series - Sweden Kronor
• Global Financial Data currency histories table ( Microsoft Excel format)
• Sveriges Riksbank (English)