Currency · SEK · kr

Exchange rate
for the Swedish krona (SEK)

The Swedish krona is the official currency of Sweden, issued by Sveriges Riksbank, the oldest central bank in the world. Convert it at the real interbank rate, in real time, with a transparent margin from 0.40%.

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SEKISO code · kr
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The Swedish krona at a glance

The essentials on the Swedish krona (SEK)

The key facts about Sweden's currency, and how to convert it at the right rate.

ISO code SEK, symbol kr

The official currency of Sweden, subdivided into 100 öre. The krona is also called "krona" (plural "kronor").

Managed by the Riksbank

Founded in 1668, Sveriges Riksbank is the oldest central bank in the world and targets 2% inflation.

A cyclical currency

Sweden is a small, open economy : the krona closely tracks foreign trade and the European cycle.

Exchange from 0.40% at ibani

A sliding, transparent margin applied to the real rate, with no hidden fees.

Our experts' analysis

The Swedish krona, currency
of a very open economy.

The Swedish krona (SEK) is the currency of a small, open economy that is heavily exposed to foreign trade. Driven by a solid industrial and exporting base, Sweden conducts a large share of its trade with the eurozone, which makes the krona sensitive to the European economic cycle.

Considered a cyclical currency, the krona tends to strengthen when market risk appetite is high and to weaken in times of uncertainty. The interest-rate gap between the Sveriges Riksbank and the ECB, as well as the industrial outlook, are among the main drivers of its moves against the Swiss franc and the euro.

SEK key facts
ISO codeSEK · kr
Central bankRiksbank
Area of useSweden
ProfileSmall, open economy
Monetary policy

The Riksbank's policy and the krona

Sveriges Riksbank, founded in 1668, is the oldest central bank in the world. It is responsible for Sweden's monetary policy, with the main objective of price stability and a 2% inflation target, in order to support sustainable growth.

To achieve this, the Riksbank uses several instruments :

The policy rate

Formerly known as the "repo rate", it was renamed the policy rate in June 2022. It is the Riksbank's main lever to steer inflation and, indirectly, the value of the krona.

Asset purchases

The Riksbank can buy bonds to inject liquidity into the economy, a tool widely used during periods of low inflation and crisis.

A pioneer of negative interest rates, the Riksbank kept its policy rate in negative territory from 2015 to 2019, a policy that coincided with a marked weakening of the krona. Its decisions, and above all the rate gap with the ECB, remain a central driver of the SEK's value against other currencies.

History of the Swedish krona

The key dates in its history

1668

Birth of the Riksbank

Sveriges Riksbank is founded : it is today considered the oldest central bank still in operation in the world.

1873

Introduction of the krona

The krona replaces the former riksdaler as part of the Scandinavian Monetary Union, bringing together Sweden, Denmark and later Norway.

1992

Currency crisis and float

To defend the krona's peg, the Riksbank briefly raises its rate to 500%. The peg gives way : the krona is then left to float freely.

2003

No to the euro by referendum

Swedes reject adopting the euro. Sweden keeps its national currency and an independent monetary policy.

2015

Entry into negative rates

The Riksbank lowers its policy rate below zero to fight overly low inflation, a policy that weighs on the krona.

2019

Exit from negative rates

At the end of 2019, the Riksbank brings its policy rate back to 0%, ending nearly five years of negative rates.

Today's rates

Our rates for the Swedish krona (SEK)

Indicative value for 1 unit, ibani margin included. Click a pair for its details and history.

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Frequently asked questions

Frequently asked questions about the Swedish krona (SEK)

Always compare the offered rate with the real interbank (mid-market) rate. A specialised online exchange service like ibani starts from this real rate and adds only a transparent margin from 0.40%, with no hidden fees, whereas a bank often applies a much wider spread. Compare with our rate comparator.

The Swedish krona is issued by Sveriges Riksbank, founded in 1668 and considered the oldest central bank in the world. It conducts Sweden's monetary policy with a 2% inflation target, mainly through its policy rate (formerly the repo rate).

Sweden is a small, open economy that is highly dependent on its foreign trade, a large share of which is with the eurozone. The krona therefore reacts strongly to the European economic cycle, to market risk appetite and to the interest-rate gap between the Riksbank and the ECB.

You can convert the Swedish krona (SEK) into the Swiss franc (CHF) and the euro (EUR), the pairs most in demand in Switzerland, as well as into other major currencies such as the US dollar, the pound sterling or the Norwegian krone.

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