SEK (Swedish Krona)

AAA

DEFINITION of 'SEK (Swedish Krona)'

The currency abbreviation for the Swedish krona (SEK), the currency for Sweden. The Swedish krona is made up of 100 öre and is often presented with the symbol kr. The krona, which means "crown" in English, is also known in Sweden as the "spänn" or "kosing".

INVESTOPEDIA EXPLAINS 'SEK (Swedish Krona)'

The Swedish krona replaced the riksdaler riksmynt at par in 1873, when the Scandinavian Monetary Union was formed. This union of Sweden, Denmark and Norway used the gold standard to value the krona at 1/2,480 of a kilogram of gold. After WWI and the break-up of the union, the currencies were separated, and Sweden kept its own respective krona.

Since 1992, the exchange rate has been allowed to float against other currencies, with the central bank intervening when necessary to stabilize the krona's value.

RELATED TERMS
  1. Currency

    A generally accepted form of money, including coins and paper ...
  2. Quote Currency

    The second currency quoted in a currency pair in forex. In a ...
  3. Forex Futures

    An exchange-traded contract to buy or sell a specified amount ...
  4. Forex - FX

    The market in which currencies are traded. The forex market is ...
  5. Currency Pair

    The quotation and pricing structure of the currencies traded ...
  6. Base Currency

    The first currency quoted in a currency pair on forex. It is ...
RELATED FAQS
  1. How is a block chain network useful for trading goods and assets in virtual currencies?

    Perhaps the most famous quote associated with blockchain technology came from an anonymous virtual currency user, who described ... Read Full Answer >>
  2. What types of companies benefit from reporting results utilizing constant currencies ...

    Any company that does a substantial amount of business in foreign countries, and is therefore subject to foreign currency ... Read Full Answer >>
  3. What are key benefits to a country that has engaged in a policy of currency depreciation?

    In the modern world, most currencies represent fiat money not backed by any commodity or precious metal and whose value is ... Read Full Answer >>
  4. How does a block chain prevent double-spending of Bitcoins?

    Double-spending – the incidence of one individual successfully spending a Bitcoin balance more than once – is a major concern ... Read Full Answer >>
  5. What is the difference between barter and currency systems?

    The primary difference between barter and currency systems is that a currency system uses an agreed-upon form of paper or ... Read Full Answer >>
  6. What is a forward contract against an export?

    A forward contract against an export is an agreement between the importer and exporter to exchange a specified amount of ... Read Full Answer >>
Related Articles
  1. Forex Education

    Currency Exchange: Floating Rate Vs. Fixed Rate

    Baffled by exchange rates? Wonder why some currencies fluctuate while others are pegged? This article has the answers.
  2. Options & Futures

    Iceland's Near Collapse: What Can We Learn?

    This thriving country was brought to its knees by the rapid growth - and subsequent decline - of its banking industry.
  3. Economics

    How Does China Manage Its Money Supply?

    Here's how the Central Bank of China manages its currency rates and the money supply.
  4. Forex Strategies

    Three Currencies Benefiting From Low Oil Prices

    The Indian rupee is clearly the biggest beneficiary of the slide in oil prices, followed by the Indonesian rupiah and British pound.
  5. Mutual Funds & ETFs

    Are Currency Hedged ETFs a Good Idea?

    Considering currency-hedged ETFs? Here's a look at eight and what you need to know right now.
  6. Forex

    Why The Yuan (RMB) Is Russia's Favorite Currency

    Russia has agreed to a currency swap worth $24 billion with China. What is Russia's thinking behind promoting the Yuan in its economy?
  7. Forex

    How Undervalued Is The Yuan?

    Some argue that the large U.S. trade deficits over the past 15 years are primarily due to currency management by U.S. trading partners.
  8. Economics

    Caribbean Currencies: An Overview

    As many as ten currencies are used among the islands of the Caribbean. A fixed exchange rate regime is the most common exchange regime found in the region; however, a few of the larger islands ...
  9. Mutual Funds & ETFs

    A Look at How Currency-Hedged ETFs Work

    Currency-hedged ETFs come in two varieties: single-currency and multiple-currency. Which is right for you?
  10. Markets

    Rising Interest Rates: Who it Helps, Who it Hurts

    When interest rates rise, the impact hits some of us differently. Here's why.

You May Also Like

Hot Definitions
  1. OsMA

    An abbreviation for Oscillator - Moving Average. OsMA is used in technical analysis to represent the variance between an ...
  2. Investopedia

    One of the best-known sources of financial information on the internet. Investopedia is a resource for investors, consumers ...
  3. Unfair Claims Practice

    The improper avoidance of a claim by an insurer or an attempt to reduce the size of the claim. By engaging in unfair claims ...
  4. Killer Bees

    An individual or firm that helps a company fend off a takeover attempt. A killer bee uses defensive strategies to keep an ...
  5. Sin Tax

    A state-sponsored tax that is added to products or services that are seen as vices, such as alcohol, tobacco and gambling. ...
  6. Grandfathered Activities

    Nonbank activities, some of which would normally not be permissible for bank holding companies and foreign banks in the United ...
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!