Currency Used in Sweden
Sweden has its own currency even though it's part of the European Union, which uses the euro. The Swedish krona is known as the crown in English. More than one krona is a kronor. The abbreviation for the Swedish krona is SEK.
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Coins
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Swedish money is broken into the equivalent of dollars and cents, which are called krona and öre. One hundred öre equal one krona. There are three denominations of coins: 1, 5 and 10.
Bills
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Swedish kronor bills come in the following denominations: 20, 50, 100, 500 and 1,000. The more the bill is worth, the bigger the bill is.
The 20 kronor bill is purple with an image of Selma Lagerlöf.
The 50 kronor bill is yellow with an image of Jenny Lind.
The 100 kronor bill is light blue with an image of Carl van Linné.
The 500 kronor bill is red and gray with an image of Charles XI.
The 1,000 kronor bill is yellow and gray with an image of Gustav Vasa.
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Current Exchange Rates
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As of July 16, 2009, the current currency exchange rates can be found at:
XE.com, where their conversion is 1 USD to 7.79 SEK.
Currate.com, shows the current rate at 1 USD to 7.82 SEK.
Yahoo Finance has the rate at 1 USD to 7.78 SEK.
Exchange Rate Trends
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For 2009 the Swedish Kronor has ranged from a low of 7.4 SEK to 1 USD to a high of 9.29 SEK to 1 USD.
In the last year, the US dollar dropped to a of 6.02 SEK to 1 USD. This is illustrative of the difficult times that both the US dollar and the Swedish krona suffered during the beginning of the recession in 2008.
Expected Changes to the Kronor
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In a 2003 referendum on adopting the euro, 56 percent of the country voted no. The 2008 recession had led to a change in attitude and a belief that adopting the euro would stabilize the economy. As of July 2009, another referendum had not been set.
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