1. Guides
  2. Country Guides (A-Z)
  3. Sweden - Foreign Exchange & Currency Guide

Foreign Exchange Guide to Sweden

Latest market mid-rate: 1.0 =

Country Code:
SE
Domestic Currency:
Swedish krona
Symbol - Code:
kr SEK
Telephone Prefix:
+46

In this guide we review :

  1. Swedish krona info - general info about the Swedish krona
  2. Swedish krona in the markets - recent SEK moves and predictions from the FX markets
  3. Buying Swedish krona cash online - travel money for Sweden
  4. Sending money to Sweden - save on Swedish krona bank transfers to Sweden
  5. Swedish krona exchange rates - latest info & charts.

Swedish krona (SEK) general currency information

The three letter currency code for the Swedish krona is SEK and the symbol is kr. It is the domestic currency in Sweden.

One krona is subdivided into 100 øre.

Ordinarily, the Swedish krona is not of regular interest to market commentators or journalists, unlike the FX 'majors' – the euro, US dollar, Australian dollar, Swiss franc etc. The krona is, however, the world’s 9th most traded currency, according to 2016 data from the Bank for International Settlements, and it contributes more to total foreign exchange market volume (around 2.2%) than does the New Zealand dollar (2%), which is considered an FX major.

Sweden retains the krona despite its membership of the European Union. In a national referendum in 2003, a majority of Swedish voters opposed adopting the euro as the nation’s currency and currently none of Sweden's major political parties are interested in revisiting the 'euro vs. krona' debate. In a survey of public opinion by the University of Gothenburg in 2013, only 9% of Swedes were in favour of adopting the euro.

Since 1995, the krona’s lowest valuation against the US dollar came in July 2001 when USD/SEK reached 11.05. The currency was strongest in April 2008 when USD/SEK fell to just 5.82. Against the euro, since the single currency's introduction in 1999, EUR/SEK has traded between 8.02 and 11.79.


Swedish krona (SEK) in the markets

What a year it has been for the krona.

In the final week of August, the krona was the best performing G10 currency of 2017, being the only other G10 currency to gain against the euro (gain of +0.9%). On August 25th, SEK/EUR rates were slightly above 0.105 (EUR/SEK 9.5). Against the troubled US dollar, the krona was up an impressive 13.3% on the year at rates above 0.124 (USD/SEK 8.036).

TD Securities had it right when they said in February that the Swedish krona was “a core component of [TD's] FX outlook for 2017.” Their strategists correctly predicted at the time that the Swedish economy would remain on a solid footing and that inflation would rise.

The good news for those in Sweden is that it seems that the krona isn’t done yet.

On August 21st, Dutch bank ABN Amro said that the krona would appreciate against the euro to 0.114 (EUR/SEK 8.75) by the end of H1 2018.

In September, against the US dollar, ABN forecast the krona would climb 19% from rates at the time to 0.1485 (USD/SEK 6.73) by the end of 2018.

As their reasons for krona appreciation, ABN have cited a robust Swedish economy, above-2% inflation and an improvement in global trade; all of which are likely to force the Riksbank to normalise monetary policy after years of low interest rates and quantitative easing.



Sweden Trip Checklist   

  1. Compare SEK travel cash rates - probably why you are here!
  2. Hotel deals - Save on your accomodation in Sweden
  3. Travel insurance - for those unexpected travel adventures...
  4. Lonely Planet - world's best travel guide (coupon and deals)

Travel money for Sweden

Save money and time by Ordering your Swedish krona online from Travelex, you get better rates and can pick up the SEK cash locally or even on travel day at the airport.

Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.

For card purchases if offered a choice of currencies always select to Pay in Swedish krona otherwise you may get much worst exchange rates.



Sending money to Sweden

When sending money to Sweden it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 3 simple steps :

  1. Open an account with a BER reviewed FX provider (id docs may be required)
  2. You specify the local or Swedish krona amount you want to transfer
  3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
  4. Once your funds are received by the provider the converted SEK amount will be transfered to the recipient account you specify in Sweden.

By comparing the rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Swedish krona deposited into the recipient bank account in Sweden and less margins and fees kept by the banks!


Swedish krona - exchange rates

Loading SEK/USD Chart
SEK calculator

Major SEK cross rates
View Full List (A-Z)
1SEK=

Best Exchange Rates - We make it Easy to Compare Exchange Rates & Fees of Banks and Currency Exchange & Payment Providers


Level 2, AMP Tower, 50 Bridge Street, Sydney, NSW 2000, Australia

Disclaimer | Copyright | Privacy Statement


DISCLAIMER

Best Exchange Rates is an information only service. By browsing on the website, using our comparison tools or FX provider referral service, you are asking Best Exchange Rates to provide you with information about currency exchange products & services from multiple financial institutions.

We will try to show you a range of products & services in response to your request for information. The search results do not include all providers and may not compare all features relevant to you. In giving you product information we are not making any suggestion or recommendation to you about a particular product.

If you decide to conduct foreign exchange you will deal directly with a financial institution, and not with Best Exchange Rates. Rates and product information should be confirmed with the relevant financial institution, see our terms of use for further details.

Best Exchange Rates may receive fees or other benefits in relation to activity on the Best Exchange Rates website. Best Exchange Rates may receive remuneration for vendor referral links. Please note that the opinions of our authors are their own and do not reflect the opinion of Best Exchange Rates and should not be taken as a reference to buy or sell any financial product.

Read our Full Terms of Service



COPYRIGHT

This website and its contents are the copyright of BEST EXCHANGE RATES PTY LTD © 2009-17. All rights reserved.

Any redistribution or reproduction of part or all of the contents in any form is prohibited other than the following. You may print or download contents to a local hard disk for your personal and non-commercial use only. You may copy some extracts only to individual third parties for their personal use, but only if you acknowledge the website as the source of the material.

You may not, except with our express written permission, distribute or commercially exploit the content. You may not transmit it or store it on any other website or other form of electronic retrieval system.

For more details or request distribution right please contacxt us here.