Krona
Krona is the name of the currency used in Sweden. The plural form is kronor and one krona is divided into 100 öre, singular and plural. The ISO 4217 code is SEK.
The introduction of the Krona, which replaced the Riksdaler as the country's legal tender, was a result of the Scandinavian Monetary Union, which came into effect in 1873 and lasted until the First World War. 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. After dissolution of the monetary union Sweden, Denmark and Norway all decided to keep the name of their respective and now separate currencies.
By tradition the 1 Krona coins carry the head of current monarch and one of the Coats of Arms of Sweden, or a Crown, on the reverse side. The Royal motto of the monarch is also inscribed on the coin.
Exchange Rate
The exchange rate of the Swedish Krona against other currencies has historically been dependant on the monetary policy pursued by Sweden at the time. Since November 1992 a managed float regime has been upheld. On October 17, 2003 the exchange rate was 7.7295 against the United States dollar, 8.9850 against the Euro and 12.915 against the British pound.
See also
External links
Referenced By
Aurar | Bank of Sweden | Christopher Polhem | Crown | Crown (disambiguation) | Currency code | Currency codes | Daler | Danish Krone | Economy of Sweden | Estonian kroon | European Communities | European Union | Eyrir | ISO 4217 | ISO currency code | Icelandic króna | Ivar Kreuger | Koruna | Krone | Kroon | Króna | List of currency codes | Modernization of Sweden | Monetary policy of Sweden | Norrmalmstorg robbery | Norwegian Krone | Norwegian currency | Norwegian kroner | Riksdaler | Royal mottos of Swedish monarchs | Scandinavia | Scandinavian Monetary Union | Scandinavians | Skandinaviska Banken | Sveriges Riksbank | Sweden/Economy | Swedish National Debt Office | Taler | Thaler | Union between Sweden and Norway
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