The Swedish crown (Krona, kr) is the currency of Sweden.
ISO 4217 code is SEK (international designation).
One crown is divided into 100 Öre.
Banknotes and coins
Currently, banknotes of the following denominations are in circulation:
- 20 crowns with the image of the writer Selma Lagerlöf on the front side and the hero of her fairy tale “Nils's Wonderful Journey with the Wild Geese” - Nils - on the reverse side;
- 50 crowns with the image of the opera singer Jenny Lind;
- 100 crowns with the image of Carl Linnaeus;
- 500 crowns with the image of King Charles XI and the Swedish inventor and industrialist Christopher Polhem;
- 1000 crowns with the image of King Gustav Vasa.
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Coins currently in circulation:
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1 crown |
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On the one-krona coin, the portrait of Karl Gustaf, depicted on the obverse side, often changed. But now you can pay with any of these coins, regardless of the portrait.
Story
The Swedish krona was introduced into circulation in 1873 as a result of the formation of the Scandinavian Monetary Union, which lasted until the First World War. The crown replaced the previously used riksdaler. Scandinavian countries became members of the union, with the currency name krona in Sweden and krone in Denmark and Norway, which means “crown” in Scandinavian languages. After the collapse of the union, all three countries decided to keep the name, but for their own currencies.
According to tradition, on the obverse of the one-krona coin is a portrait of the monarch of Sweden, and on the reverse is one of the coats of arms of Sweden, or a crown. The coin also bears the king's motto.
Coins
In 1873 - 1876, bronze 1, 2 and 5 ore, gold 10 and 20 crowns, as well as silver coins of 10, 25, 50 ore, 1 and 2 crowns appeared in circulation. Since 1881, five-crown gold coins began to be issued.
Production of gold coins, suspended in 1902, resumed briefly in 1920 and 1925 before finally ceasing. In 1917 - 1919, due to a shortage of metal during the First World War, coins began to be minted not from bronze, but from iron. Since 1920, coins in denominations of 10, 25 and 50 öre have been issued from an alloy of bronze and nickel, and since 1927 again from silver.
During World War II, metal shortages once again caused changes in Swedish coinage. In 1940 - 1947, coins made of an alloy of bronze and nickel reappeared in denominations of 10, 25 and 50 öre. In 1942 - 1952, iron again had to be used instead of bronze, and the silver content in other coins had to be reduced. Since 1952, coins of 2 crowns, 10, 25 and 50 öre began to be made from an alloy of copper and nickel, and since 1958, the one-crown coin has been made from copper coated with an alloy of copper and nickel (since 1982 it has been minted entirely from an alloy of copper and nickel) . In 1954, 1955 and 1961, silver five-crown coins were issued, similar in appearance to modern 1 and 2 crown coins.
In 1962, a new smaller five-crown coin was introduced in copper-nickel plated nickel, the modern design of which was only approved in 1979. In 1971, the production of coins in denominations of 1 and 2 öre, as well as 2 kroner, ceased, in 1984 - in 5 and 25 öre, and in 1991 - in 10 öre. Since 1972, smaller coins in the 5th era began to be minted. In addition, in 1992, ten-crown coins made of an alloy of aluminum and brass ("Scandinavian gold") and coins in the 50th era, painted in bronze, appeared. In March 2009, the government announced that it would cease issuing 50-öre coins, so they will no longer be a legal means of payment from October 2010. The reason for this decision was the low purchasing power of such coins, as well as the impossibility of using them in most parking payment machines and vending machines. It is noted, however, that the era will be used for electronic payments. The feasibility of further use of coins in denominations of 2 and 20 kroner is currently being discussed by the Central Bank of Sweden (Riksbank).
Of all the coins issued in the past, only the 2-krona coins minted since 1876 remain legal tender, although they are extremely rare in circulation. In addition, all commemorative and commemorative coins produced in 1897 and later are also legal tender. Until 1966, two-crown coins were issued with 40% silver content, as a result of which they were already worth much more than their face value several years ago and were almost entirely bought up and melted down or ended up in numismatic collections. However, in Sweden, melting down coins that are legal tender is considered illegal, which is why melted coins are still in circulation.
By tradition, only coins with a denomination of 1 crown or more bear images of monarchs (the only exception is the modern five-crown coin). In addition, many of them can be seen with the motto of the royal family.
Banknotes
In 1874, the Swedish Central Bank introduced banknotes in denominations of 1, 5, 10, 50, 100 and 1000 kronor. The 1-krona banknote was produced only during the first two years and from 1914 to 1920. 10,000 kroner banknotes were issued in 1939 and 1958.
Five-crown notes ceased production in 1981, but a 5-krona coin has been issued since 1972. In 1985, a 500 kroner banknote came into circulation. After the introduction of the ten-kroner coin in 1991, the issue of 10-krona banknotes ceased and 20-krona banknotes appeared. The production of 50-krona banknotes, which had been suspended that same year, resumed in 1996. In 2006, the Swedish Central Bank introduced a new 1000 kroner banknote, which has security features developed by Crane AB, a company in Tumba, Sweden, which issues all Swedish banknotes.
Exchange rate
The exchange rate of the Swedish krona against other currencies has historically depended on the financial policies pursued by Sweden at the relevant time. Since November 1992, the country has maintained a regulated floating exchange rate for the national currency. Since 2002, the krona exchange rate has been relatively stable against the euro (approximately 9-9.5 SEK per 1 euro), but since the second half of 2008 the value of the krona has decreased by approximately 20%, settling at around 10.4-11 SEK per euro. The reason for this weakening was the actions of the Swedish Central Bank, which greatly reduced the official interest rate and did not try to strengthen the exchange rate.
Euro
According to the EU accession agreement in 1995, Sweden must join the eurozone and eventually introduce the euro. Despite this, on September 14, 2003, a popular referendum was held in Sweden on the introduction of the euro, which showed that 56% of the 80% of the country's residents who voted were against the new currency (according to the BBC). The Swedish government has announced a possible suspension of the transition of the monetary system to the euro, since one of the requirements for the country's entry into the eurozone is a preliminary two-year use of the European Exchange Rate Mechanism (ERM II). Thus, by not participating in the ERM II program, the Swedish government formally has the right not to switch to the euro.
Some of Sweden's major parties continue to believe that it is in the national interest for the country to join the eurozone, but for now they must take the referendum results into account and not push for a new poll. The parties agreed not to discuss the issue until the 2010 general elections, after which a new referendum would be possible in 2012 or later. Surveys conducted in 2005 and 2006 showed that about 55% of the population were against the introduction of the euro, 45% were in favor of the new currency (not counting those who abstained - about 15%). During a survey conducted in May 2007, 33.2% were in favor, 53.8% were against, and 13.0% abstained.
In the newspaper Dagens Nyheter, Swedish Prime Minister Fredrik Reinfeldt said that a new referendum on the introduction of the euro will not take place until the people and all major parties agree and a date has been chosen. at the discretion of the Social Democrats. He added that the leader of the Social Democratic Party, Mona Sahlin, demanded that the results of the already held popular poll be respected and that a new referendum be postponed until 2010.
The Governor of the Swedish Riksbank, Stefan Ingvis, displays the new Swedish krona design. February 6, 2015.
Photo: Jessica Gow/TT
On April 1, 2011, the Riksbang announced plans to issue new banknotes in denominations of 20, 50, 200, 100, 500 and 1000 kroner. A year later, images of future banknotes were published, which, however, turned out to be very far from the final version. It was planned to begin introducing new banknotes into circulation on December 31, 2013, however, the presentation of the new banknotes took place only in February of this year.
New banknotes will go into circulation October 1 this year(20, 50, 200 and 1000 CZK) and October 1, 2016 (100 and 500 CZK). The withdrawal of old banknotes (1997 and 2006) from circulation will begin immediately. It is planned that the process of replacing banknotes in denominations of 20, 50 and 1000 crowns will end by June 30, 2016; after this day, these banknotes will no longer be used to pay for goods and services; however, for another two months, until August 31, 2016, they can be used for replenishment deposits in banks. The date of withdrawal of old 100 and 500 kroner banknotes from circulation is June 30, 2017.
The concept of banknote design has changed. As before, the great Swedes are depicted on the front sides of the banknotes, but maps and landscapes of the Swedish provinces began to be depicted on the reverse sides.
This is what the new Swedish banknotes look like:
20 CZK. On the front side there is an image of the Swedish writer Astrid Lindgren and her favorite literary character Pippi Longstocking, on the back there is a map of the Swedish province of Småland, located in the southeast of the country. Previously, another Swedish writer, Selma Lagerlöf, was depicted on a banknote of this denomination, and on the reverse side was an illustration for the book “Nils’s Journey with the Wild Geese.”
50 CZK. The tradition of placing a portrait of a pop singer on the 50-krona banknote continues. Previously it was a portrait of the first female pop star in history, Jenny Lind, and now it depicts the Swedish pop singer and composer of the first half of the 20th century, Evert Tob. On the reverse side is a map of the province of Bohuslän, located on the North Sea coast near the border with Norway. The largest city in the province is Gothenburg. It is also the second most populous city in Sweden.
100 CZK. The great Swedish film and theater actress Greta Garbo and Stockholm, where Garbo was from. Previously, the naturalist, traveler and climber Carl Linnaeus was depicted on a banknote of this denomination.
The 200 crown note has been reintroduced. It depicts the Swedish film director Igmar Bergman, who brought all the horror of existentialism and the island of Gotland to the world's movie screens. They say it's a beautiful place.
500 CZK. Opera singer Birgit Nilssen and the southernmost Swedish province of Skåne with the famous bridge connecting the Swedish city of Malmo with the Danish capital Copenhagen. Previously, on a banknote of this denomination, King Charles XI was depicted, perhaps the most successful Swedish king, during whose reign Sweden became the main military and political force in the Baltic and even almost completely conquered Poland (“Flood”), as well as one of the founders of the Swedish technical revolution, Karl Pulhem.
1000 CZK. Dag Hammarskjöld - Swedish diplomat, UN Secretary-General from 1953-61, who died in a plane crash over Zambia. The causes of the disaster are unclear to this day, but back in the 80s the Soviet press reported that the DC-6 plane in which Hammarskjöld was flying was shot down by a plane of white mercenaries fighting in the rebellious Congolese province of Katanga. On the back of the banknote there is an image of the landscape of the northernmost Swedish province of Lapland. Previously, King Gustav Vasa was depicted on the 1,000-krona banknote.
Despite the fact that the population of Sweden pays mainly with bank cards, they have quite a lot of banknotes in their hands. The most common Swedish banknote is the 500 kroner banknote. The population has over 113 million of these banknotes in their hands (an average of 12 banknotes per person). The 100-crown banknote is second most common. The average Swede has on average 10 such banknotes in his hands, 20 kroner banknotes - 87 million pieces (9 pcs/hour), 50 kroner banknotes - 25 million (less than 3 pieces per person).1,000-krona banknotes are rare - there are less than 20,000 in hand and in bank vaults (one banknote for every 460 people), while the number of banknotes of this denomination in circulation has decreased by 20% over the past 4 years.
In total, on average, each Swede should theoretically have 34 banknotes in his wallet with a total value of 7,330 crowns. In total, Sweden had around 80 billion kroner in circulation in coins and banknotes in 2015. Over seven years, this amount has decreased by 30 billion.
Banknotes for Sweden are now printed by the Finnish Mint; its own Mint was closed in 2011. At the time of closure, the cost of printing banknotes was approximately 50 kroner per unit, that is, it was simply unprofitable to print banknotes with a face value of less than 100 kroner. By the way, at the time of closure, the Swedish Mint had already belonged to the Finnish mint mentioned above for 8 years.
Also, from October 1, coins in denominations of 1, 2 and 5 crowns of a new type will be introduced into circulation. The reasons for the replacement are clear. On the obverse of coins in Sweden, it is customary to depict the king’s head in profile, but King Carl XVI Gustav has been in power for a very long time - in three days his “reign” will be 42 years old. When he became king he was 27 years old, now he is 69. It is clear that over the years he has changed “somewhat”. Next year it is planned to begin minting 10-crown coins. Interestingly, the population of Sweden has a huge amount of coins in their hands. For example, on average there are 142 1-krona coins per Swede and 28 coins each in 5- and 10-krona denominations. Coins in denominations of 2 crowns are relatively rare. There are now approximately 2 million of them in use in a country with a population approaching 10 million. By the way. Coins in Sweden are not particularly withdrawn from circulation. For example, I have a 1-krona coin with the image of the previous king of Sweden, Gustav VI Adolf, the grandfather of the current one. This coin was minted in the year the old king died (he died at 91) - 1973.
The Swedish krona is the national currency of Sweden. Today, 1 crown contains 100 öre. The currency has the world symbol Skr, SEK. The country's cash circulation uses paper notes of 20, 50, 100, 500 and 1000 crowns and coins of 1, 5, 10 crowns. Despite the fact that Sweden is a member of the European Union, it is in no hurry to transfer the national monetary system to the euro. The export of Swedish crowns from the territory of the country is limited - it is allowed to export no more than 6 thousand crowns in paper bills.
Most Swedish banks are open from Monday to Thursday from 9:30 to 15:00. Currency exchange offices at airports, train stations, and main post offices are open seven days a week. Prices in Sweden are quite high: a small lunch - 100 CZK, lunch in a restaurant - from 1000 CZK, a blouse - from 600 to 1500 CZK, shoes 400-1500 CZK, travel from the airport to the city - 600 CZK, 10 trips around the city - about 150 CZK Prices are generally rounded to the nearest 0.5 kroons.
The crown did not always exist in the form in which it is presented today.
History of origin
For a very long period of time, copper money was the means of payment in Sweden. Coins were minted round in the 1st and 2nd eras, rhombic in the 4th, 8th and 16th eras, and square in the 2nd, 4th, 8th, 12th, 15th and 16th eras. These were the most inconvenient and heaviest coins in all history - the heaviest was in denomination of 10 dalers and weighed 19 kg. 710!!!
Ere, daler, riksdaler
In 1522, under King Gustav I Vasa of Sweden, a silver öre coin weighing 4.39 g was minted for the first time (the weight of silver in it was 1.37 g). At the end of the 16th century, the main means of payment became the daler, which was equal to 32 Ere. The quality of silver öre gradually deteriorated (1604-1624, 1 öre weighed 1.62 g and contained 0.4 g of silver), while the quality of daler did not change. To distinguish the daler as a unit of account from the daler as a coin, a new silver coin was introduced in 1604 - the riksdaler.
Over time, money constantly depreciated, and the minting of easy money could no longer satisfy all demand (in 1712, 1 riksdaler = 2 silver dalers = 9 copper dalers). A way out of this situation was proposed by Johan Palmstrich - in 1661 he opened the first bank in the country, Stockholms Banco, and put paper money into circulation. This was the first paper money not only in Sweden, but throughout Europe. Money could be freely passed from hand to hand. Later, in 1668, the Rikets Standers Bank was founded, which was subordinate to parliament. Subsequently, this bank will become the central bank of Sweden.
Crown
Almost 2 centuries later, in 1873, Sweden, Denmark, and Norway joined the Scandinavian Monetary Union. It was then that the Swedish krona was introduced into circulation with a content of 0.4032258 g of gold. In 1876, bronze 1, 2 and 5 öre, 10, 20 crowns made of gold, as well as silver coins in 10, 25, 50 öre, 1 and 2 crowns, appeared in use. Since 1881, 5 crown coins have been issued in gold. During the First World War, participating countries stopped using the gold standard, their currencies were devalued each to their own extent. There was a shortage of metal, and Swedish coins were minted from iron rather than bronze.
Origin of the word crown
The word “crown” in modern language has two meanings: the top of a tree and a type of coin. At first glance, these seem to be two completely different words. However, this is not so: both words come from the same root krone, which means crown. All coins depict a crown, which is why they are called a crown, and the upper part of the tree is, as it were, its crown. In turn, the root krone is a derivative of the ancient Greek word κορώνη - crow. How did it happen that the crow became the crown? The hooked raven beak became the reason for the figurative use of this word, one of which is the meaning of crown (crown).
Modern banknotes and coins.
Banknotes
From an artistic point of view, Sweden's paper currency is very skillfully made. The crown, along with its colorful and original appearance, has a high security system. In addition to all other degrees of protection, the banknote has a coded magnetic stripe, the counterfeit of which is almost impossible. The Swedish company Crane AB produces Swedish banknotes and develops security elements.
It should be noted that banknotes of different denominations have different sizes. This is made for ease of use by blind people. The design of the currency was carried out by several artists who were able to perfectly depict sights and cultural values.
The following banknotes are currently in use:
20 Swedish kronor - Selma Lagerlöf (on the obverse), the hero of the children's novel "Nils's Wonderful Journey with the Wild Geese" (on the reverse);
Selma Lagerlöf is the first woman writer to receive the most prestigious international Nobel Prize. Initially, her novel was conceived as a school textbook on geography.
50 SEK - Jenny Lind (on obverse), silver harp (on reverse);
Jenny Lind is an opera singer. On the obverse there is a microtext of a quote from Arnold Schoenberg: “Music carries a prophecy that reveals that higher form of life to which humanity is moving. And this is because the prophecy is addressed to people of all races and nationalities."
On the reverse there is an image of a silver harp, its range and a fragment from the score of the composer Sven-David.
100 Swedish krona - Carl Linnaeus (on the obverse), an image of a pollinated flower (on the reverse);
Carla Linnaeus was the first president of the Swedish Academy of Sciences, the author of a system for classifying various animals and plants (about 1,500 species). The obverse has microtext: “Find the amazing in all things, even the simplest.” This was the scientist's motto.
500 SEK - King Charles XI (on the obverse), scientist Karl Polhey (on the reverse);
Charles XI made a very great contribution to strengthening Swedish statehood, reforming the army, and introduced the best recruit training system in Europe.
Karl Polhey is a scientist in the field of metallurgy. Next to the portrait there are mathematical calculations taken from the scientist’s notebooks.
1000 SEK - Gustav Vasa (on the obverse), harvest scene (on the reverse).
Gustav Vasa is the "father of Swedish statehood". On the banknote there is a microtext with his saying, taken from a letter in which he ordered the translation of the Bible into Swedish: “Let them have the Holy Scriptures in their own language” (SCRIPTURAM IN PROPRIA HABEANT LINGUA). The harvest scene is taken from an interpretation by the Swedish priest Olaus Magnus. The top of the banknote features a solar disk. The sun contains a hidden image of a crescent moon, which glows under ultraviolet light. This is one of the security elements of the banknote.
Coins
Today, for minting they use a copper-nickel alloy (coins of 1 and 5 crowns) and an aluminum-brass alloy, which is called “Scandinavian gold” (10 crowns). On the obverse of 1 crown coins and more, the monarch of Sweden is depicted (with the exception of the coin of 5 crowns). crowns), and on the reverse side is the coat of arms of Sweden or the crown. Many coins bear the motto of the king's family: "For Sverige i tiden" - "For Sweden - always!". Since 2010, due to its low purchasing power, a coin in the 50th era is not legal tender.
1 crown coin
20 crowns - Astrid Lindgren (obverse), Småland (reverse);
Astrid Lindgren is an outstanding writer. From her pen came such works known to all of us as: “Pippi Longstocking”, “The Kid and Carlson Who Lives on the Roof”, “Emilia from Lenneberga” and many others.
50 crowns - Evert Taube (on the obverse), Boguslan (on the reverse);
Evert Axel Taube is a famous singer.
100 crowns - Greta Garbo (on the obverse), Stockholm (on the reverse);
Greta Garbo is a Swedish actress who was awarded an Oscar for her contribution to the development of cinema. Pictures with her participation: “Flesh and the Devil”, “Love”, “Mata Hari”, “Grand Hotel”.
200 crowns - Ingmar Bergman (on the obverse), Gotland (on the reverse);
Ingmar Bergman is a famous theater and film director, screenwriter, and writer. His films have received great recognition from the world community: “Strawberry Field”, “Smiles of a Summer Night”, “Silence”, “The Seventh Seal”, “Passion”.
500 kroner - Birgit Nilsson (on obverse), Skane (on reverse);
An entire era is associated with the opera singer La Nilsson, as she was called on the world's leading stages.
1000 kroner - Dag Hammarskjöld (on the obverse), Lapland (on the reverse).
Gene. UN Secretary, international statesman, world Nobel Prize laureate, and also a religious philosopher and poet. Died in a plane crash in 1961.
The banknotes will depict 3 men and 3 women - thus the central bank tried to maintain gender equality. However, if you take into account the denomination of the money, then the bills with the image of men amount to 1250 kroons, and women - only 620 kroons.
Sweden (official name – Kingdom of Sweden) is a Northern European state located in the eastern part of the Scandinavian Peninsula. It shares land borders with Norway and Finland, as well as sea borders with Denmark. The total area of Sweden is almost 450 thousand square kilometers. The capital is the city of Stockholm, located in the southeast of the country and inhabited by almost nine hundred thousand people.
The name of the state comes from the Old Norse words Svea and Rige, which are translated as “state of the Svei,” where the Svei are a Germanic tribe that inhabited the southern part of the Scandinavian peninsula.
Sweden's current population is about 10 million people. Ethnically, the vast majority are Swedes. In addition to them, quite a lot of Norwegians, Arabs, and people from other countries live in the country. Swedish is constitutionally designated as the official language.
In two world wars, Sweden adhered to a policy of neutrality and therefore its economy was not destroyed, as in other countries of the continent. The post-war boom led to even greater prosperity, and by the 1970s the state had the third-highest per capita income in the world.
Currently, the Kingdom of Sweden is one of the richest and economically prosperous states not only in Europe, but also in the world with stable political power and armed forces.
The national currency of Sweden is the Swedish krona, which is divided into 100 øre. The currency has the international designation SEK. The country's cash circulation uses paper notes of 20, 50, 100, 200, 500 and 1000 crowns and coins of 1, 2, 5, 10 crowns.
The word "crown" has two meanings - a coin and the top of a tree. Both of these words have an identical root, which translates as “crown.” All crowns have the image of a crown, and the crown, in turn, is like the top of a tree. It is also known that krone comes from the ancient Greek word “crow”. How does a crow relate to the crown - because of its beak, which figuratively means “crown” - i.e. crown.
HISTORY OF THE SWEDISH KRONA
In 1522, Sweden first minted a silver öre coin weighing 4.39 grams (the weight of silver in it was 1.37 g). At the end of the 16th century, the daler, which was equal to 32 eras, became the main means of payment.
Over time, money constantly depreciated, and the minting of easy money could no longer satisfy all demand. A way out of this situation was proposed by Johan Palmstrich - in 1661 he opened the first bank in the country, Stockholms Banco, and put paper money into circulation. This was the first paper money not only in Sweden, but throughout Europe. Money could be freely passed from hand to hand. Later, in 1668, the Rikets Standers Bank was founded, which was subordinate to parliament. Subsequently, this bank will become the central bank of Sweden.
In 1873, Sweden, Denmark, and Norway joined the Scandinavian Monetary Union. Then the Swedish krona was introduced into circulation with a content of 0.4032258 grams of gold. In 1876, bronze 1, 2 and 5 öre, 10, 20 crowns made of gold, as well as silver coins in 10, 25, 50 öre, 1 and 2 crowns, appeared in use. Since 1881, 5 crown coins have been issued in gold. During the First World War, participating countries stopped using the gold standard, their currencies were devalued each to their own extent.
The events of the First World War predetermined the liquidation of the Union, the official date of which is October 1924. Each of the countries of the former Scandinavian Union switched to their own kroner, with national rather than regional status and an emphatic definition to the name. This is where the Danish, Norwegian and Swedish krona come from.
After 1945, the Swedish krona was pegged to the US dollar. From March 19, 1973 to August 29, 1977, Sweden participated in a system of narrowed limits for deviations in mutual exchange rates of member countries of the Common Market, although it was not a member of the EEC. After Sweden left the system of mutual fluctuations in the exchange rates of the EEC countries, the Swedish State Bank in August 1977 switched to setting the krona exchange rate based on a basket of currencies of the country's 15 main trading partners. The exchange rate of the Swedish krona has always been dependent on the foreign exchange policy of the state. Since November 1992, the currency has had a floating exchange rate.
Relations between the Swedish krona and the euro
In 1995, Sweden became part of the European Union. This obliges the participating country to switch to a single European currency. The question of adopting a single European currency was put before the country's residents in September 2003. Then, in the referendum, 56.1 percent of residents voted against and refused to support their own country’s membership in the eurozone.
The Swedish government has announced a possible suspension of the transition of the monetary system to the euro, since one of the requirements for the country's entry into the eurozone is a preliminary two-year use of the European Exchange Rate Mechanism (ERM II). Thus, by not participating in the ERM II program, the Swedish government formally has the right not to switch to the euro.
Since then, some political forces in Sweden have repeatedly spoken out in favor of holding a second referendum. In particular, the People's and Christian Democratic parties believe that it is necessary to return to a nationwide discussion of this issue. Others cautiously suggest that the time has not yet come for such a referendum.
Currently, the Swedes' economic situation is better than in the rest of Europe, and joining the eurozone could worsen it. In addition, their famous universal social security system may be under threat, analysts say. Thus, if in 2003 there was talk about the country's possible transition to the euro in 2006, now, obviously, these plans have been forgotten, and the only monetary reform that Sweden is carrying out is the replacement of old banknotes with new ones.
ISSUANCE OF NEW COINS AND BANKNOTES
Modern Swedish kronor were introduced in the 1980s and 90s, and since then only minor improvements have been made to make them more resistant to counterfeiting. But any improvement of existing things has its limit: sooner or later it becomes easier to do everything “from scratch” based on modern technologies. Therefore, the Riksbank (the local central bank) has developed completely new banknotes and coins, which should completely replace all those in circulation with the exception of the 10 kroner coin.
On October 1, 2015, the smooth exchange of banknotes in denominations of 20, 50 and 1000 kroner began, and the previously non-existent 200 kroner banknote was introduced into circulation. In October 2016, new 100 and 500 kroner banknotes, as well as 1, 2 and 5 kroner coins, will go into circulation. The old 10-crown coins will remain unchanged.
The new banknotes will be made of cotton and will be smaller than the existing ones. The height of all banknotes will be 66 mm, while the length varies between 120 and 154 mm. The banknotes will be marked for people with low vision. The banknotes will also be equipped with new additional security levels, one for the 20 and 50 kroner notes and two for higher denominations.
The 1 crown, 2 crown and 5 crown coins will be smaller and lighter than the coins in circulation, while the 10 crown coin will remain unchanged. The 2 crown and 1 crown coins will be made from copper-plated steel, while the 10 crown and 5 crown coins will be made from “Scandinavian gold”.
Banknotes with new images will be put into circulation: famous figures of the 20th century will be depicted on the obverse, and historical regions of Sweden associated with their lives and activities will be depicted on the reverse.
SEK 20 – color purple.
Obverse. Astrid Lindgren is an outstanding writer. From her pen came such works known to all of us as: “Pippi Longstocking”, “The Kid and Carlson Who Lives on the Roof”, “Emilia from Lenneberga” and many others.
Reverse. Småland.
SEK 50 - yel-low/orange.
Obverse. Evert Taube is a poet and musician, famous singer.
Reverse. Bohuslan.
100 SEK - color blue.
Obverse. Greta Garbo is a Swedish actress who was awarded an Oscar for her contribution to the development of cinema. Pictures with her participation: “Flesh and the Devil”, “Love”, “Mata Hari”, “Grand Hotel”.
Reverse. Stockholm.
200 SEK - color green.
Obverse. Ingmar Bergman is a famous theater and film director, screenwriter, and writer. His films have received great recognition from the world community: “Strawberry Field”, “Smiles of a Summer Night”, “Silence”, “The Seventh Seal”, “Passion”.
Reverse. Gotland.
500 SEK - color red.
Obverse. Birgit Nilsson. An entire era is associated with the opera singer La Nilsson, as she was called on the world's leading stages.
Reverse. Skane.
1000 SEK - color taupe.
Obverse. UN Secretary General, international statesman, world Nobel Prize laureate, and also a religious philosopher and poet. Died in a plane crash in 1961.
Reverse. Lapland.
The official reasons for the banking operation are to better protect new money from counterfeiting and increase its safety for the health of citizens.
This is what it is, the Swedish krona - a full-fledged currency full of its own dignity, a small but very self-sufficient European state.
Note to tourists
Most Swedish banks are only open from 9:30 am to 3:00 pm from Monday to Thursday. Some banks in the center of Stockholm - from 9 a.m. to 5:30 p.m. Exchange offices operate at airports, train stations, marinas, and main post offices and are open seven days a week. ATMs operate 24 hours a day. They accept all major credit cards: American Express, Diner's Club, Eurocard, MasterCard, Visa. The import of national and foreign currency is not limited. The export of foreign currency is not limited, however, the Swedish crown can be exported in exchange not exceeding 6 thousand crowns in banknotes of no more than 1 thousand crowns. In addition to the national currency, some large stores also accept euros, although at a very unfavorable rate.
Despite the fact that formally 1 crown is equal to 100 öre and the Swedes like to indicate these very öre in price tags, there is nothing less than 1 crown in circulation. Therefore, if the price tag says 9-90, then it costs exactly 10 CZK, even if you pay by card and not in cash.
Swedes treat money with respect and responsibility - they count it. Their indispensable condition in any friendly gatherings is equal participation. Not because they are stingy, they just really don’t like to think that they owe someone money.
Tipping is not accepted in Sweden, just like in other Scandinavian or Benelux countries. Tipping occurs in rare cases, but is not mandatory. Tipping in Sweden is mainly left by foreign tourists, out of habit; this tradition is not practiced among locals; when paying for good service, you can round up the amounts or forget to take back the change.
In 2015 and 2016, new banknotes and coins were introduced into circulation in Sweden. A new 200-kroner banknote is also being introduced. In addition, we are resuming the issue of 2 crown coins. Banknotes will have new features of authenticity, providing better protection against counterfeiting, and coins will become smaller and lighter.
Banknotes and coins will be put into circulation in two stages: in October 2015 and October 2016. For some time, both currently used and new banknotes and coins will be in circulation. Old banknotes and coins will be gradually withdrawn from circulation (except for the 10-kroner coin, which cannot be replaced). To avoid having invalid banknotes and coins on your hands, use them when paying for services or deposit them into your bank account as soon as possible. When you receive a new banknote, tilt it to ensure it is genuine. You should see some images change color while others move and change shape.
Check new Swedish banknotes with our app
The application is called "Kolla pengarna". You can download it for free from the App Store or Google Play
New banknotes from October 2015 October 1, 2015
The Riksbank begins issuing new banknotes in denominations of 20, 50 and 1000 kroner with a new design. A new 200-kroner banknote is also being introduced. You may not see new banknotes right away because old ones remain in circulation for a while.
You can verify the authenticity of a banknote by tilting it
The new banknotes are equipped with features of authenticity that make counterfeiting difficult. By tilting the banknote you can check its authenticity.
Security strip
Vertical strip with three windows. The windows contain images that change position and shape when the banknote is tilted.
Color changing image
The image smoothly changes color from gold to green when the banknote is tilted.
Security strip
The new 200 CZK and 1000 CZK banknotes have a vertical security stripe.
The strip comes to the surface in three windows.
These windows show images that move when the banknote is tilted, and the letters "KR" are replaced by an image of a royal crown.
The security strip is located to the left of the portrait on the front side of the banknote.
The color of the stripe depends on the denomination of the banknote.
Color changing image
The new banknotes also feature a color-changing image that relates to the person depicted in the portrait. This image also shows the denomination of the banknote. The image and denomination gradually change color from gold to green when the banknote is tilted. The image is located to the right of the portrait on the front side of the banknote.
Banknotes also have a number of other signs of authenticity. Information about them is on the Riksbank website: riksbank.se/kollapengarna
Banknotes that will become invalid after 30 June 2016
You can use current banknotes in denominations of 20, 50 and 1000 kroons up to and including 30 June 2016 to pay for purchases and deposit funds into your bank account. After June 30, 2016, it will no longer be possible to pay for purchases with these banknotes. Their depositing into a bank account will be possible until August 31, 2016 inclusive.
Don't put it off until the last minute! Banks and stores may impose restrictions on accepting cash. Information about this can be obtained from your store or bank.
After 31 August 2016, the Riksbank will exchange invalid banknotes with a fee of SEK 100.
Why banks should ask questions
If you intend to deposit money into a bank account or conduct another banking transaction, you must be prepared to answer questions about the source of funds and present valid identification. In some cases, the bank may also ask to see contracts, checks, invoices or other documents confirming that you received the money. This is due to the Anti-Money Laundering and Anti-Terrorism Financing Act, which states, among other things, that banks are required to investigate the source of funds in accounts. This check must be carried out even if there is no suspicion of the criminal origin of the money. The purpose of this Act is to prevent banks and other financial institutions from being used for money laundering, that is, turning money obtained from crime into money deposited in a bank account that can be used. The law applies to all financial institutions in the EU. The Riksbank also complies with the requirements of the Anti-Money Laundering Act.
What will happen to the 100 and 500 kroner banknotes and coins?
In October 2016, the Riksbank will begin issuing new banknotes in denominations of 100 and 500 kroner, as well as new coins in denominations of 1, 2 and 5 kroner. The 10 crown coin will remain in circulation unchanged. The 100 and 500 kroner banknotes currently in use, as well as coins, with the exception of the 10 kroner coin, will become invalid after 30 June 2017.
Additional information about new banknotes and coins, as well as banknotes and coins being withdrawn from circulation, will be provided next year.
Use coins now!
Remember: with the exception of the 10 crown coin, all coins will become invalid in 2017. Use your coins now, especially if you have a lot of them. This way you do not risk being left with invalid coins in your hands. Banks and stores may impose restrictions on accepting cash, so do not leave this issue until the last minute.
