Science Fair Project Encyclopedia
- This article is about the Swedish unit of currency. See below for a list of similarly named currencies of other countries. Krona is also the name of a DC Comics alien villain.
|Swedish krona banknotes|
|20||Selma Lagerlöf (front)|
|Nils Holgersson (back)|
|500||King Charles XI (front)|
|Christopher Polhem (back)|
|1000||King Gustav Vasa|
|Swedish krona coins|
|Most coins depict the current king, Carl XVI Gustaf.|
The introduction of the krona, which replaced the riksdaler as the country's legal tender, was a result of the Scandinavian Monetary Union, which came into effect in 1873 and lasted until the First World War. The parties to the union were the Scandinavian countries, where the name was krona in Sweden and krone in Denmark and Norway, which in English literally means crown. After dissolution of the monetary union Sweden, Denmark and Norway all decided to keep the name of their respective and now separate currencies.
By tradition the one-krona coins carry the effigy of current monarch and one of the Coats of Arms of Sweden, or a crown, on the reverse side. The royal motto of the monarch is also inscribed on the coin.
The exchange rate of the Swedish krona against other currencies has historically been dependent on the monetary policy pursued by Sweden at the time. Since November 1992 a managed float regime has been upheld. On January 23, 2005, the exchange rate was 6.94183 against the United States dollar, 9.05438 against the euro and 13.0355 against the British pound.
- Sveriges Riksbank
- Monetary policy of Sweden
- Swedish National Debt Office
- Table of historical exchange rates
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