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. Authorized Forex Dealer

    Any type of financial institution that has received authorization ...
  2. Quote Currency

    The second currency quoted in a currency pair in forex. In a ...
  3. Base Currency

    The first currency quoted in a currency pair on forex. It is ...
  4. Forex Futures

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

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

    The quotation and pricing structure of the currencies traded ...
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. Chart Advisor

    Use This ETF To Trade The Swiss Franc

    Traders were stunned last week when the Swiss National Bank removed the currency peg that tied the value of the Swiss franc to the euro.
  4. Economics

    Sanctions & Falling Oil Prices Hit Ruble Hard

    Russia, through its aggressive actions, has brought upon itself sanctions which, coupled with falling oil prices, have adversely impacted its economy.
  5. Economics

    What is the difference between a nation's current account deficit and its currency valuation?

    Learn the respective meanings of the two terms, current account deficit and currency valuation, and understand the relationship between them.
  6. Forex Strategies

    How do I use the Haurlan Index to create a forex trading strategy?

    See how the three components of the Haurlan index can be used by forex traders to assess the strength of buyers and sellers for a currency pair.
  7. Forex

    Bitcoin's Main Stumbling Block: Navigating The Law

    Coders created Bitcoin to be decentralized and independent of governments and banks. Authorities are still struggling to create a legal framework.
  8. Investing Basics

    The Most Popular Bitcoin Mining Software

    Success at mining bitcoins depends on the combination of time, knowledge, computer hardware and the complementary software.
  9. Forex Education

    Who are cambrists and how do I become one?

    Discover what a cambrist is, why they are important to exchange markets and what skills you should possess if you are interested in becoming one.
  10. Trading Strategies

    Can forex currency pairs exhibit consolidation patterns?

    Learn how forex currency pairs exhibit recognizable consolidation patterns. These patterns offer traders the opportunity to place low-risk, high-reward trades.

You May Also Like

Hot Definitions
  1. Weight Of Ice, Snow Or Sleet Insurance

    Financial protection against damage caused to property by winter weather specifically, damage caused if a roof caves in because ...
  2. Weather Insurance

    A type of protection against a financial loss that may be incurred because of rain, snow, storms, wind, fog, undesirable ...
  3. Portfolio Turnover

    A measure of how frequently assets within a fund are bought and sold by the managers. Portfolio turnover is calculated by ...
  4. Commercial Paper

    An unsecured, short-term debt instrument issued by a corporation, typically for the financing of accounts receivable, inventories ...
  5. Federal Funds Rate

    The interest rate at which a depository institution lends funds maintained at the Federal Reserve to another depository institution ...
  6. Fixed Asset

    A long-term tangible piece of property that a firm owns and uses in the production of its income and is not expected to be ...
Trading Center