The Swedish krona has been the official currency in Sweden since 1873. The word krona itself translates as crown in Swedish and so you sometimes hear the currency referred to as the Swedish crown, although this is less common than it used to be.
A single Swedish krona breaks down into 100 öre but since 2010 there have been no öre coins in circulation as they are of such a small denomination. The ISO code to look out for when considering Swedish krona exchange rates is SEK and when written down the currency sign ‘kr’ is usually used. The Swedish krona is in the top 20 most traded currencies in the world. Many online casinos recognise this and provide players with the opportunity to play in krona.
The History of the Swedish Krona
Previous to the krona, Sweden used a currency called the riksdaler but it was the creation of the Scandinavian Monetary Union which saw them switch to the krona. It came into effect in 1873 and lasted until 1914. The union joined together the Swedish krona with the krone in Denmark and Norway and the three currencies were set on the gold standard, with the krone/krona measured against gold and coming in as a 1/2480 of a kilogram of pure gold.
The currencies of Denmark, Norway and Sweden are now completely separate but they all chose to keep the same currency names.
It was in 2008 that the Swedish National Bank, the Riksbank, announced it would be phasing out the 50 öre coin, which was the only one still in circulation. The öre remains a subdivision unit for when electronic payments are made but without coins any cash payment which includes öre is rounded to the nearest krona.
The Riksbank also has plans to replace other coins in circulation with a new series of kronor coins arriving in October 2016. One of the main reasons for these new coins being minted is the end of the use of nickel in currency production and they are reintroducing a new 2 kronor coin.
The Riksbank also recently issued a new series of banknotes which were issued in October 2015. The new series of notes included a new 200 kronor banknote and further new 100 and 500 kronor notes are set to be released in October 2016, alongside the new coins. Swedish banknotes depict famous people from their history, much like British banknotes and their notes include individuals such as Greta Garbo (100kr note), Astrid Lindgren (20kr note) and Birgit Nilsson (500kr note).
Swedish Krona Conversion Rates
Today, one singular Swedish krona is worth approximately £0.08 or $0.12. Conversely, £1 is worth approximately 11.80SEK and $1 is worth 8.30SEK.
The popularity of the Swedish krona as a trading currency means it has been accepted by many casinos as a valuable choice to offer. You will find it is included in the range of currencies available at many top casino sites. You can explore the sites below which offer Swedish krona as an option.