See both the current exchange rate for Euro (EUR) and the currency's historical development over time against the Swedish Krona. You can choose your own.
Table of contents
- EUR/SEK Currency Pair | An Exotic Investment Option
- SEK (Swedish Krona)
- EUR vs. SEK: The Exotic Currency Pair
- Anything else we can help you with?
- Dollar - Swedish Krona Chart
EUR/SEK Currency Pair | An Exotic Investment Option
In the foreign currency exchange marketplace, SEK is the abbreviation for the Swedish krona which is the national currency of Sweden. It is among the top currencies currently trading in the world Forex FX market. The krona, which means crown in Swedish, has been Sweden's currency since and is also expressed by the symbol KR. It replaced the Swedish riksdaler. The exchange rate of SEK depends heavily on the monetary policy of Sweden.
SEK (Swedish Krona)
The country's central bank is known as the Sveriges Riksbank, the world's third oldest bank, and the oldest central bank. In , Sweden implemented a floating exchange rate for SEK, and it has been allowed to float against other currencies since then, with the Sveriges Riksbank occasionally intervening to stabilize the krona. While most countries in the European Union have adopted the euro, Sweden, like Denmark and Norway, is one of a handful of EU member nations that have opted to maintain their legacy currencies. Even though the Treaty of Maastricht holds Sweden responsible for eventual conversion to the Euro, a referendum in found 56 percent of voters opposed the new currency, and the country has since held off joining the Euro by avoiding specific necessary monetary requirements that would require it.
EUR vs. SEK: The Exotic Currency Pair
The government has said it will not bring a new referendum on the issue until it has sufficient popular support, but the appetite for the Euro has only decreased. Although there is still occasional debate on the subject, it appears there are no plans for conversion anytime soon. Despite Sweden's relatively small economy, its well-educated and tech-savvy workforce and the fact that it is home to many multinational corporations have led many Forex observers to classify SEK as a safe haven currency.
A safe haven is expected to retain or increase in value during times of market turbulence.
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Still, global uncertainties, especially during threats of an international trade war, have led to some losses for the safe haven krona over the last four years. A looser economic policy has led to overall weakness in the Swedish krona in the four years from to It is sensitive to global prices of major energy resources such as oil and natural gas.
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Dollar - Swedish Krona Chart
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