Business, Legal & Accounting Glossary
The Swedish krona is the currency of Sweden. As part of Scandinavian Monetary Union, Sweden introduced the Swedish krona as Sweden’s official currency in 1873. Although the Scandinavian Monetary Union ended with World War I, the Swedish krona remained Sweden’s official currency. SEK is the currency code for the Swedish krona. Sr is the symbol for the Swedish krona. The Sveriges Riksbank, the central bank of Sweden, is responsible for Sweden’s monetary policy and distributes the Swedish krona. Although Sweeden has been a member of the European community since 1995, it has decided not to become a member of the European Exchange Rate Mechanism II (ERM II). As a result, Sweden has been able to keep using the Swedish krona as its official currency.
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This glossary post was last updated: 6th February, 2020