SEK: currency. Currency of Sweden

Monetary unit of Sweden is the local krona. It was put into circulation in 1873. Then Denmark and Sweden created a single economic space in the form of a Scandinavian monetary union. Two years later Norway joined him. After the end of the First World War, three states begin to issue their own crowns, which have not only a regional but also a national status.

General information about Swedish krona

In the Swedish crown a hundred era. In the international financial system, the Swedish krona has the designation SEK. The currency of Sweden has not lost its positions in the homeland, despite the country's membership in the European Union. An interesting fact is that this Scandinavian state has not entered the Eurozone at the moment, although under the 1994 agreement it undertook to do so provided certain criteria are met.

History of the Swedish crown

Many tourists and travelers do not know whose currency is SEK. The Swedish krona was put into circulation instead of the riksdaler. In translation from Swedish, krona means "crown". The Scandinavian monetary union assumed an equal value of the currencies of the Scandinavian states in relation to gold, the content of which in coins was set at 0.4032258 grams.

With the outbreak of World War I, Sweden, Denmark and Norway stopped providing gold for their coins. Paper notes were launched into circulation, which significantly affected the rates of all three currencies. The Scandinavian monetary union was not formally dissolved, but in fact ceased to exert any influence on the monetary policy of the three states in 1924. Then the Danish and Norwegian coins were deprived of the status of an official payment instrument in the territory of Sweden, and SEK (the currency of the country) became the only monetary unit in this state.

Big Bang

Big Bang, or "Big Bang", an event in October 1982, which had a huge impact on the further development of the Swedish economy. Then the country's leadership organized and implemented a massive devaluation of the Swedish krona, resulting in the SEK currency rate fell by 16%. The reason for such measures was the stagnation of the Swedish economy and the backlog from other Western countries, partly caused by the international economic crisis in the 70s of the XX century. The term Big Bang itself was borrowed from astronomy. The name should symbolize the beginning of a new stage in the development of the national economy of Sweden.

Paper banknotes of the Swedish krona

For today, paper denominations of twenty, fifty, one hundred, five hundred and one thousand SEK are involved in circulation. What currency can boast of original stories? Swedish krona! On a banknote of twenty crowns is a portrait of writer S. Lagerlöf on the obverse and the hero of her work "A Miraculous Journey of Niels Holgersson on Sweden" by Niels on the reverse side. On fifty crowns the face of the opera singer Lind Jenny is proudly adorned. A hundred crowns depict a Swedish naturalist and physician, Linnaeus Karl.

On a bill of five hundred crowns - Swedish King Charles XI and a scientist, industrialist and inventor Christopher Polhammar. SEK - a currency worth a thousand crowns - contains the image of the King of Sweden Vazy Gustav.

Since 2005, paper notes and old-style coins have been excluded from circulation. It will be by the way to emphasize that coins began to disappear from circulation due to the liquidation of the Mint of Sweden, whose existence was considered economically impractical. The photo below shows the banknotes of the last series.

In connection with the deficit of small- sized coins in Sweden, there was a kind of tradition to round up the value of all goods to half a crown. SEK - currency in banknotes and coins - is realized in branches of local banks, in exchange points, in the territory of large shopping centers, in good hotels or at the post office.