What is the Currency of Sweden?
Planning a trip to the land of the Vikings, ABBA, and IKEA? Well, there’s a lot to look forward to in Sweden: stunning landscapes, rich history, and of course, the famous Swedish fika culture. But before you dive into cinnamon buns and endless cups of coffee, let’s get practical. What is the currency of Sweden, and how does it work?
In this guide, we’ll walk you through everything you need to know about Sweden’s currency — from its denominations to its exchange rate, and whether you should be relying on cash or card for your Swedish adventure. Whether you're heading to Stockholm’s royal palaces or exploring the archipelagos of Gothenburg, you’ll be equipped with all the money knowledge you need.
Currency in Sweden
The official currency of Sweden is the Swedish krona, abbreviated as SEK and symbolised by "kr". Its name translates to "crown" in English, and it shares the moniker with its Scandinavian neighbours, Norway and Denmark, who use the krone and krone respectively. The krona has been in circulation since the 19th century, and despite Sweden’s EU membership, it has never adopted the euro.
If you’re wondering whether euros are accepted in Sweden, the short answer is no (more on that later!). For now, let's focus on the Swedish krona and everything you need to know about spending it.
Denominations of Swedish Krona
Sweden’s currency comes in a variety of coins and banknotes to cater to your spending needs. Here’s a quick rundown of the denominations you’ll encounter:
Banknotes:
20 kr
50 kr
100 kr
500 kr
1,000 kr (rarely used)
Coins:
1 kr
2 kr
5 kr
10 kr
The banknotes are vibrant and modern, featuring iconic Swedish figures and scenic landscapes. It’s almost like carrying around miniature pieces of Swedish culture in your pocket. For more information on Swedish banknotes and coins, check out Riksbank’s official page.
Can You Use Euros in Sweden?
Sweden has been a member of the European Union since 1995, but unlike many other EU countries, it has never adopted the euro. In fact, a referendum held in 2003 saw 56% of Swedes vote against adopting the euro, and there are currently no plans to change this.
This means that euros are not widely accepted in Sweden. While some larger tourist destinations or hotels might accept euros, it’s certainly not something to count on. For a hassle-free trip, it’s best to stock up on Swedish krona before you travel. You can get your Swedish krona from Travelex, and have it delivered straight to your door, or pick it up from one of our stores and at most major UK airports.
For those going cashless, the Travelex Money Card is also a great option. Load it up with Swedish krona, lock in your exchange rate, and enjoy secure, easy spending wherever Mastercard prepaid is accepted — from the trendy streets of Stockholm to the remote islands of the Swedish archipelago.
History of the Swedish Krona
The Swedish krona has a long and interesting history, having been in use since the late 19th century. Let's take a quick look at how it has evolved over time.
The First Kronor
The Swedish krona was introduced in 1873 as part of the Scandinavian Monetary Union, which also included Denmark and Norway. The countries agreed to use a single currency, tied to the gold standard, with the value of one krona equivalent to 1/2480 of a kilogram of gold.
The krona replaced the Swedish riksdaler, a currency that had been in use since the 17th century. Even today, some Swedes might refer to the krona as the riksdaler or other fun nicknames like spänn, bagare, or simply pix. And if you’re brushing up on your Swedish, remember: the plural of krona is kronor, not “kronas”!
Although the Scandinavian Monetary Union ended in 1914, with the outbreak of the First World War, Sweden kept the name of its currency, and the krona has remained ever since.
The Krona in the 20th Century
Throughout much of the 20th century, the Swedish krona was relatively stable. Sweden's strong economy, bolstered by its neutral stance during both World Wars. However, the krona's value fluctuated as economic pressures grew towards the end of the century, especially during the 1990s financial crisis, which saw the krona fall to around 14 to the pound. This period of instability was tough for Swedes, but great news for visiting Brits.
The Modern Krona
Since 1992, the Swedish krona has been on a managed float, meaning its value fluctuates based on market forces, but with occasional intervention by Sweden's central bank. Over the past two decades, the krona has hovered around 12-14 SEK to the pound, with the current exchange rate (October 2024) typically sitting at around 13 SEK per GBP.
Where to Get Swedish Krona
When travelling to Sweden, it’s a good idea to have both cash and a card on hand. Credit or debit cards are accepted virtually everywhere — from restaurants and shops to public transport. Many Swedes use contactless payments or mobile payment systems like Swish. That said, it’s still worth carrying a bit of cash for smaller purchases or for places in more rural areas that might prefer traditional payment methods.
The Travelex Money Card is the perfect travel companion for Sweden. You can load it up with Swedish krona before you go, locking in your exchange rate, and use it wherever Mastercard prepaid is accepted. Tap your way through Stockholm’s stylish boutiques or pay effortlessly as you sail through the Göta Canal.
You can easily buy Swedish krona online from Travelex and have it delivered to your door or pick it up at the airport before you jet off.
FAQs About the Swedish Krona
How Many Swedish Krona to the Pound?
As of the latest exchange rates (October 2024), 1 British pound (GBP) is worth approximately 13 Swedish krona (SEK). However, exchange rates can fluctuate daily, so it’s a good idea to check the live rate using a currency converter before you exchange your money.
Can You Use Swedish Krona in Denmark and Norway?
Sweden, Denmark, and Norway all have similar-sounding currencies, but they are not interchangeable. In other words, you cannot use Swedish krona in Denmark or Norway. Each country has its own version of the "crown" — the Danish krone (DKK) and the Norwegian krone (NOK). If your travels take you to more than one of these Scandinavian countries, you’ll need to exchange money for each or use a multi-currency travel card, like the Travelex Money Card.
How Strong is the Swedish Krona?
The Swedish krona is considered a relatively stable currency, though it has seen its ups and downs over the years. While it isn’t the strongest currency in Europe, it’s great news for travellers from the UK, as your pound will stretch further when visiting Sweden. The current exchange rate of around 13 SEK to 1 GBP gives you good value for your money, meaning you can enjoy everything from Swedish food to souvenirs without too much sticker shock.
Ready to Buy Some Swedish Krona?
You’ve read the guides, planned your trip, and now you’re ready to buy some Swedish krona!
Buy Swedish krona online and enjoy free home delivery on orders over £500, or choose to click & collect from convenient locations around the UK, including most major airports. Get great rates and pay no commission when you buy online now through Travelex.
Travelex Money Card
The Travelex Money Card, powered by Mastercard, is the secure and easy way to spend abroad. You can load up to 22 currencies, including Swedish krona, and it’s not linked to your bank, so your account stays safe while you’re out exploring. Lock in your exchange rate before you travel, so there’s no need to worry about fluctuating rated. Accepted at millions of locations worldwide, wherever Mastercard prepaid is accepted, the Travelex Money Card makes your trip to Sweden seamless and stress-free. Get yours now with Travelex.
Now that you’re armed with everything you need to know about Sweden’s currency, you're ready for your adventure! Whether you’re soaking up Swedish history in Stockholm, exploring the country’s beautiful lakes and forests, or indulging in a cinnamon bun or two, you’ll be able to spend like a local. Safe travels!