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The krona (Swedish: ⓘ; plural: kronor; sign: kr; code: SEK) is the currency of the Kingdom of Sweden.It is one of the currencies of the European Union.Both the ISO code "SEK" and currency sign "kr" are in common use for the krona; the former precedes or follows the value, the latter usually follows it but, especially in the past, it sometimes preceded the value.
The main events in the monetary history of the Krona are: Introduction of the Krona, based on the gold standard on 5 May 1873. (1 kg of gold = 2480 Kronor) The tie to gold is abolished on 2 August 1914. The tie to gold is de facto re-established in November 1922. The tie to gold is de jure re-established on 1 April 1924
The word "krone/krona" literally means "crown", and the differences in spelling of the name represent the differences between the North Germanic languages. The political union between Sweden and Norway was dissolved in 1905, but this did not affect the basis for co-operation in the monetary union.
An equal valued krona of the monetary union replaced the three legacy currencies at the rate of 1 krona = ½ Danish rigsdaler = ¼ Norwegian speciedaler = 1 Swedish riksdaler. The new currency (krona) became a legal tender and was accepted in all three countries – Denmark, Sweden and Norway.
The Scandinavian Monetary Union replaced the riksdaler riksmynt in 1873 with a new currency, the krona. An equal valued krone/krona of the monetary union replaced the three Scandinavian currencies at the rate of 1 krone/krona = 1 ⁄ 2 Danish rigsdaler = 1 ⁄ 4 Norwegian speciedaler = 1 Swedish riksdaler riksmynt.
This is a timeline of Swedish history, ... Swedish krona replaces Swedish riksdaler as national currency 1876: Office of prime minister (statsminister) instituted
Öre (Swedish pronunciation: [ˈœ̂ːrɛ]) is the centesimal subdivision of the Swedish krona. In the Swedish language, the plural of öre is either öre (indefinite) or ören (definitive). The name öre derives from the Latin word aereus/aurum, meaning gold. [1] The corresponding subdivisions of the Norwegian and Danish krones are called øre.
Facing a natural drop in the use of cash by the Swedish population, the Riksbank is pioneering the idea of introducing a central bank digital currency, the e-krona. [20] Such currency would have the same properties as cash, but in a digital form.