Gold 5-krona coins were added in 1881. In 1873 the Scandinavian Monetary Union currency was fixed so that 2,480 kronor purchased 1 kg of gold.
So one öre in 1873 bought as much gold as 1.47 krona in 2017.
So if it is reasonable to have the smallest denomination coin 1 krona today, in 1873 a reasonable smallest denomination coin was 1 öre.
All remaining five-krona and ten-krona banknotes became invalid after 31 December 1998. An exhaustive list of every banknote design since 1874 is not included, but the following five designs were or will be retired in 2016–2017.
Nonetheless, all previous mintages of 1- and 2-krona coins were still legal tender until 2017, since 1875 and 1876, respectively, though 2-krona coins were extremely rarely seen in circulation as they have not been issued since 1971.
The word öre is ultimately derived from the Latin word for gold. == History == The introduction of the krona, which replaced at par the riksdaler, was a result of the Scandinavian Monetary Union, which came into effect in 1876 and lasted until the beginning of World War I.
Nonetheless, all previous mintages of 1- and 2-krona coins were still legal tender until 2017, since 1875 and 1876, respectively, though 2-krona coins were extremely rarely seen in circulation as they have not been issued since 1971.
Gold 5-krona coins were added in 1881. In 1873 the Scandinavian Monetary Union currency was fixed so that 2,480 kronor purchased 1 kg of gold.
The banknote had some controversy in 1985 because of the executions of "Snapphane" guerrilla warriors that King Charles XI ordered. The first two designs of 1,000-krona banknotes (printed from 1894 to 1950 and 1952–1973) became invalid on 31 December 1987.
A more secure version with the same portrait was printed from 1997 to 2008 and became invalid after 30 June 2016. A 50-krona banknote (3rd design since 1896) was printed 1996–2003 with a portrait of the singer Jenny Lind and on the reverse was a picture of a silver harp and its tonal range.
Previous 10-krona coins are not legal tender. Also in 1991, bronze-coloured 50-öre coins were introduced. Jubilee and commemorative coins have been minted and those since 1897 or later are also legal tender. The royal motto of the monarch is also inscribed on many of the coins.
A more secure version with the same portrait was printed from 2006 to 2011 and became invalid after 30 June 2016. A 100-krona banknote (3rd design since 1898) was printed 1986–2000 with a portrait of the botanist Carl Linnaeus and on the reverse was a drawing of a bee pollinating a flower.
A 10 kr gold coin weighed 4.4803 grams with 900 fineness so that the fine weight was 4.03327 grams or exactly 1/248th of a kilogram. In 1902, production of gold coins ceased, and was briefly restarted in 1920 and 1925 before ceasing entirely.
The three currencies were on the gold standard, with the krona/krone defined as of a kilogram of pure gold. After dissolution of the monetary union in August 1914, Sweden, Denmark, and Norway all decided to keep the names of their respective and now separate currencies. == Coins == === Contemporary === On 11September 2012, the Riksbank announced a new series of coins with new sizes to replace the 1- and 5-krona coins which arrived in October 2016.
The 1-krona was only initially issued for two years, although it reappeared between 1914 and 1920.
Due to metal shortages during World War I, iron replaced bronze between 1917 and 1919.
Due to metal shortages during World War I, iron replaced bronze between 1917 and 1919.
A 10 kr gold coin weighed 4.4803 grams with 900 fineness so that the fine weight was 4.03327 grams or exactly 1/248th of a kilogram. In 1902, production of gold coins ceased, and was briefly restarted in 1920 and 1925 before ceasing entirely.
Nickel-bronze replaced silver in the 10, 25 and 50 öre in 1920, with silver returning in 1927. Metal shortages due to World War II again led to changes in the Swedish coinage.
The 1-krona was only initially issued for two years, although it reappeared between 1914 and 1920.
A 10 kr gold coin weighed 4.4803 grams with 900 fineness so that the fine weight was 4.03327 grams or exactly 1/248th of a kilogram. In 1902, production of gold coins ceased, and was briefly restarted in 1920 and 1925 before ceasing entirely.
Nickel-bronze replaced silver in the 10, 25 and 50 öre in 1920, with silver returning in 1927. Metal shortages due to World War II again led to changes in the Swedish coinage.
In 1939 and 1958, 10,000-krona notes were issued. Production of the 5 kronor note ceased in 1981, although a coin had been issued since 1972.
The first design featuring the Head of Mercury was printed in 1939 and became invalid after 31 December 1987.
Between 1940 and 1947, the nickel-bronze 10, 25 and 50 öre were again issued.
In 1942, iron again replaced bronze (until 1952) and the silver content of the other coins was reduced.
Between 1940 and 1947, the nickel-bronze 10, 25 and 50 öre were again issued.
The banknote had some controversy in 1985 because of the executions of "Snapphane" guerrilla warriors that King Charles XI ordered. The first two designs of 1,000-krona banknotes (printed from 1894 to 1950 and 1952–1973) became invalid on 31 December 1987.
In 1942, iron again replaced bronze (until 1952) and the silver content of the other coins was reduced.
The banknote had some controversy in 1985 because of the executions of "Snapphane" guerrilla warriors that King Charles XI ordered. The first two designs of 1,000-krona banknotes (printed from 1894 to 1950 and 1952–1973) became invalid on 31 December 1987.
A new design of 2-krona coins will be issued in 2016. Currently all the old krona coins are invalid since 2017, and they can not be used for payments, nor can they be exchanged for legal tender in any bank, and are instead instructed to be recycled as metal. In 1954, 1955 and 1971, five-krona silver coins were produced, with designs similar to contemporary 1- and 2-krona coins.
Five-krona coins minted since 1954 are legal tender but tend to be kept by collectors for their silver content. In 1971, the 1- and 2-öre, as well as the 2-krona coins ceased production.
A new design of 2-krona coins will be issued in 2016. Currently all the old krona coins are invalid since 2017, and they can not be used for payments, nor can they be exchanged for legal tender in any bank, and are instead instructed to be recycled as metal. In 1954, 1955 and 1971, five-krona silver coins were produced, with designs similar to contemporary 1- and 2-krona coins.
In 1939 and 1958, 10,000-krona notes were issued. Production of the 5 kronor note ceased in 1981, although a coin had been issued since 1972.
The second design was printed 1958 and featured a portrait of Gustav VI Adolf, and became invalid after 31 December 1991. === 2015 series === On 6April 2011, the Riksbank announced the names of the persons whose portraits would decorate the new series of banknotes that would be introduced in 2015.
In 1991, the largest banknote worth 10,000kr that was in circulation since 1958 was declared invalid and no longer was legal tender.
In 1962, cupronickel replaced silver in the 10-öre, 25-öre and 50-öre coins. In 1968, the 2 kronor switched to cupronickel and the 1-krona switched to cupronickel-clad copper (it was replaced entirely by cupronickel in 1982).
The 2-krona coins contained 40% silver until 1966, which meant they had been for several years worth much more than two kronor, so most have been bought and melted down by arbitrageurs, and the rest are kept by collectors.
In 1962, cupronickel replaced silver in the 10-öre, 25-öre and 50-öre coins. In 1968, the 2 kronor switched to cupronickel and the 1-krona switched to cupronickel-clad copper (it was replaced entirely by cupronickel in 1982).
The only party in the Riksdag that supports Swedish entry in the euro (as of 2015) is the centrist Liberal Party. == Banknotes and coins per capita in circulation == Sweden is a wealthy country and in the 1970s and 1980s the value of banknotes and coins per capita was one of the highest in the world.
Nonetheless, all previous mintages of 1- and 2-krona coins were still legal tender until 2017, since 1875 and 1876, respectively, though 2-krona coins were extremely rarely seen in circulation as they have not been issued since 1971.
A new design of 2-krona coins will be issued in 2016. Currently all the old krona coins are invalid since 2017, and they can not be used for payments, nor can they be exchanged for legal tender in any bank, and are instead instructed to be recycled as metal. In 1954, 1955 and 1971, five-krona silver coins were produced, with designs similar to contemporary 1- and 2-krona coins.
Five-krona coins minted since 1954 are legal tender but tend to be kept by collectors for their silver content. In 1971, the 1- and 2-öre, as well as the 2-krona coins ceased production.
In 1972, a new, smaller 5-krona coin was introduced, struck in cupronickel-clad nickel.
The size of the 5-öre coin was reduced in 1972.
In 1939 and 1958, 10,000-krona notes were issued. Production of the 5 kronor note ceased in 1981, although a coin had been issued since 1972.
The 5-krona coin was designed in 1974, at a time when there were political efforts to abandon the monarchy, when there was a new young inexperienced king.
Coins minted before 1974 have the same size, but contain the portrait of King Gustav VI Adolf and his royal motto. On 18December 2008, the Riksbank announced a proposal to phase out the 50-öre, the final öre coin, by 2010.
The current design has been produced since 1976.
The third design with portrait of Jöns Jacob Berzelius (printed 1976–1988) and declared invalid on 31 December 1998.
The only party in the Riksdag that supports Swedish entry in the euro (as of 2015) is the centrist Liberal Party. == Banknotes and coins per capita in circulation == Sweden is a wealthy country and in the 1970s and 1980s the value of banknotes and coins per capita was one of the highest in the world.
In 1939 and 1958, 10,000-krona notes were issued. Production of the 5 kronor note ceased in 1981, although a coin had been issued since 1972.
In 1962, cupronickel replaced silver in the 10-öre, 25-öre and 50-öre coins. In 1968, the 2 kronor switched to cupronickel and the 1-krona switched to cupronickel-clad copper (it was replaced entirely by cupronickel in 1982).
In 1984, production of the five- and 25-öre coins came to an end, followed by that of the 10-öre in 1991. In 1991, aluminium-brass ("Nordic gold") 10-krona coins were introduced.
The oldest design began to be printed in 1985. A 20-krona banknote (a new denomination) was printed 1991–1995 with a portrait of the writer Selma Lagerlöf and on the reverse was an engraved interpretation of a passage from the book The Wonderful Adventures of Nils.
A more secure version with the same portrait was introduced in 2001 and became invalid after 30 June 2017. A 500-krona banknote (a new denomination) in a blue shade was introduced in 1985 with a portrait of King Charles XI and on the reverse an engraving depicts Christopher Polhem, the "father of Swedish engineering".
The banknote had some controversy in 1985 because of the executions of "Snapphane" guerrilla warriors that King Charles XI ordered. The first two designs of 1,000-krona banknotes (printed from 1894 to 1950 and 1952–1973) became invalid on 31 December 1987.
A more secure version with the same portrait was printed from 2006 to 2011 and became invalid after 30 June 2016. A 100-krona banknote (3rd design since 1898) was printed 1986–2000 with a portrait of the botanist Carl Linnaeus and on the reverse was a drawing of a bee pollinating a flower.
With the introduction of a 10-krona coin in 1991, production of 10-krona notes ceased and a 20 kronor note was introduced. All remaining one-krona banknotes became invalid after 31 December 1987.
The banknote had some controversy in 1985 because of the executions of "Snapphane" guerrilla warriors that King Charles XI ordered. The first two designs of 1,000-krona banknotes (printed from 1894 to 1950 and 1952–1973) became invalid on 31 December 1987.
The first design featuring the Head of Mercury was printed in 1939 and became invalid after 31 December 1987.
A 500-krona banknote (red, but without foil strips) with the same portrait was printed 1989–2000.
In preparation for retirement of the 10,000-krona banknotes a new 1,000-krona banknotes (of the 4th design / without foil strips) was printed from 1989 to 1991 with a portrait of Gustav Vasa and on the reverse a harvest picture from Olaus Magnus's Description of the Northern Peoples from 1555.
For a discussion of the financial and banking crisis that hit Sweden in the early 1990s see the article History of Sweden (1991–present) and Swedish banking rescue. Unlike the United States, which by policy never declares issued money invalid, Sweden and most other European countries have a date when older series of banknotes or older coin designs are invalid and are no longer legal tender.
In 1984, production of the five- and 25-öre coins came to an end, followed by that of the 10-öre in 1991. In 1991, aluminium-brass ("Nordic gold") 10-krona coins were introduced.
Previous 10-krona coins are not legal tender. Also in 1991, bronze-coloured 50-öre coins were introduced. Jubilee and commemorative coins have been minted and those since 1897 or later are also legal tender. The royal motto of the monarch is also inscribed on many of the coins.
With the introduction of a 10-krona coin in 1991, production of 10-krona notes ceased and a 20 kronor note was introduced. All remaining one-krona banknotes became invalid after 31 December 1987.
The oldest design began to be printed in 1985. A 20-krona banknote (a new denomination) was printed 1991–1995 with a portrait of the writer Selma Lagerlöf and on the reverse was an engraved interpretation of a passage from the book The Wonderful Adventures of Nils.
In preparation for retirement of the 10,000-krona banknotes a new 1,000-krona banknotes (of the 4th design / without foil strips) was printed from 1989 to 1991 with a portrait of Gustav Vasa and on the reverse a harvest picture from Olaus Magnus's Description of the Northern Peoples from 1555.
The second design was printed 1958 and featured a portrait of Gustav VI Adolf, and became invalid after 31 December 1991. === 2015 series === On 6April 2011, the Riksbank announced the names of the persons whose portraits would decorate the new series of banknotes that would be introduced in 2015.
In 1991, the largest banknote worth 10,000kr that was in circulation since 1958 was declared invalid and no longer was legal tender.
According to Bank for International Settlements the last year Sweden was surpassed in cash on a per capita basis converted to United States dollars by USA in 1993, the Euro Area in 2003, Australia in 2007, Canada in 2009, United Kingdom and Saudi Arabia in 2013, South Korea in 2014, Russia in 2016, and Mexico in 2019.
The average exchange rate since the beginning of 2002 when the euro banknote and coins were issued and 1 March 2017 was 9.2884 SEK/EUR. == Relationship to the euro == According to the 1994 accession treaty (effective 1 January 1995), Sweden is required to join the eurozone and therefore must convert to the euro once the convergence criteria are met.
He brings up an example from Nilsson's 1995 autobiography, where she described Mauritz Rosengarten from Decca using antisemitic jokes about greed. == Exchange rate == To see where Swedish krona ranks in "most traded currencies", read the article on the Foreign exchange market. The exchange rate of the Swedish krona against other currencies has historically been dependent on the monetary policy pursued by Sweden at the time.
The average exchange rate since the beginning of 2002 when the euro banknote and coins were issued and 1 March 2017 was 9.2884 SEK/EUR. == Relationship to the euro == According to the 1994 accession treaty (effective 1 January 1995), Sweden is required to join the eurozone and therefore must convert to the euro once the convergence criteria are met.
A more secure version with the same portrait was printed from 1997 to 2008 and became invalid after 30 June 2016. A 50-krona banknote (3rd design since 1896) was printed 1996–2003 with a portrait of the singer Jenny Lind and on the reverse was a picture of a silver harp and its tonal range.
A more secure version with the same portrait was printed from 1997 to 2008 and became invalid after 30 June 2016. A 50-krona banknote (3rd design since 1896) was printed 1996–2003 with a portrait of the singer Jenny Lind and on the reverse was a picture of a silver harp and its tonal range.
All remaining five-krona and ten-krona banknotes became invalid after 31 December 1998. An exhaustive list of every banknote design since 1874 is not included, but the following five designs were or will be retired in 2016–2017.
These banknotes became invalid on 31 December 1998.
The third design with portrait of Jöns Jacob Berzelius (printed 1976–1988) and declared invalid on 31 December 1998.
A more secure version with the same portrait was introduced in 2001 and became invalid after 30 June 2017. A 500-krona banknote (a new denomination) in a blue shade was introduced in 1985 with a portrait of King Charles XI and on the reverse an engraving depicts Christopher Polhem, the "father of Swedish engineering".
A more secure version with the same portrait was introduced in 2001 and became invalid after 30 June 2017.
Circulation peaked at over 48 million in 2001. On 15 March 2006, the Riksbank introduced a new, more secure 1,000-krona banknote with the same portrait and the Riksbank became the first central bank in the world to use the security feature of MOTION (a moving image in the striped band) on the new 1,000-krona banknote.
From the years 2001 to 2008 banknotes and coins were circulated at a near constant level of around 12,000 krona per capita, but in 2006 a modified 1,000-krona banknote with a motion security strip was produced.
The average exchange rate since the beginning of 2002 when the euro banknote and coins were issued and 1 March 2017 was 9.2884 SEK/EUR. == Relationship to the euro == According to the 1994 accession treaty (effective 1 January 1995), Sweden is required to join the eurozone and therefore must convert to the euro once the convergence criteria are met.
Notwithstanding this, on 14 September 2003, a consultative Swedish referendum was held on the euro, in which 56% of voters were opposed to the adoption of the currency, out of an overall turnout of 82.6%.
According to Bank for International Settlements the last year Sweden was surpassed in cash on a per capita basis converted to United States dollars by USA in 1993, the Euro Area in 2003, Australia in 2007, Canada in 2009, United Kingdom and Saudi Arabia in 2013, South Korea in 2014, Russia in 2016, and Mexico in 2019.
The banknote became invalid after 31 December 2005.
This banknote became invalid after 31 December 2005.
A more secure version with the same portrait was printed from 2006 to 2011 and became invalid after 30 June 2016. A 100-krona banknote (3rd design since 1898) was printed 1986–2000 with a portrait of the botanist Carl Linnaeus and on the reverse was a drawing of a bee pollinating a flower.
Circulation peaked at over 48 million in 2001. On 15 March 2006, the Riksbank introduced a new, more secure 1,000-krona banknote with the same portrait and the Riksbank became the first central bank in the world to use the security feature of MOTION (a moving image in the striped band) on the new 1,000-krona banknote.
From the years 2001 to 2008 banknotes and coins were circulated at a near constant level of around 12,000 krona per capita, but in 2006 a modified 1,000-krona banknote with a motion security strip was produced.
In a poll from May 2007, 33.3% were in favour, while 53.8% were against and 13.0% were uncertain. In February 2009, Fredrik Reinfeldt, the Prime Minister of Sweden stated that a new referendum on the euro issue will not be held until support is gained from the people and all the major parties.
According to Bank for International Settlements the last year Sweden was surpassed in cash on a per capita basis converted to United States dollars by USA in 1993, the Euro Area in 2003, Australia in 2007, Canada in 2009, United Kingdom and Saudi Arabia in 2013, South Korea in 2014, Russia in 2016, and Mexico in 2019.
Possible discrepancies with these statistics and other sources may be because some sources exclude "commemorative banknotes and coins" (3.20% of total for Sweden in 2015) and other sources exclude "banknotes and coin held by banks" (2.68% of total for Sweden in 2015) as opposed "banknotes and coin in circulation outside banks". Circulation levels of cash on a per capita basis, are reduced by 51% from the high in 2007 compared to 2018.
Coins minted before 1974 have the same size, but contain the portrait of King Gustav VI Adolf and his royal motto. On 18December 2008, the Riksbank announced a proposal to phase out the 50-öre, the final öre coin, by 2010.
A more secure version with the same portrait was printed from 1997 to 2008 and became invalid after 30 June 2016. A 50-krona banknote (3rd design since 1896) was printed 1996–2003 with a portrait of the singer Jenny Lind and on the reverse was a picture of a silver harp and its tonal range.
From the years 2001 to 2008 banknotes and coins were circulated at a near constant level of around 12,000 krona per capita, but in 2006 a modified 1,000-krona banknote with a motion security strip was produced.
On 25 March 2009, the Riksdag formally decided to enact the law to repeal 50-öre coins as legal tender.
Since the Swedish banking rescue, a managed float regimen has been upheld. The weakest the krona has been relative to the euro was 6 March 2009 when one euro bought 11.6465 SEK.
In a poll from May 2007, 33.3% were in favour, while 53.8% were against and 13.0% were uncertain. In February 2009, Fredrik Reinfeldt, the Prime Minister of Sweden stated that a new referendum on the euro issue will not be held until support is gained from the people and all the major parties.
According to Bank for International Settlements the last year Sweden was surpassed in cash on a per capita basis converted to United States dollars by USA in 1993, the Euro Area in 2003, Australia in 2007, Canada in 2009, United Kingdom and Saudi Arabia in 2013, South Korea in 2014, Russia in 2016, and Mexico in 2019.
However, all öre coins were discontinued from 30 September 2010.
Coins minted before 1974 have the same size, but contain the portrait of King Gustav VI Adolf and his royal motto. On 18December 2008, the Riksbank announced a proposal to phase out the 50-öre, the final öre coin, by 2010.
Under that law, the final date payments could be made with 50-öre coins was 30 September 2010.
There was an agreement among the parties not to discuss the issue before the 2010 general election.
He added, the request of Mona Sahlin, former leader of the Social Democratic Party, for deferral of a new referendum until after the 2010 mandate period should be respected. , support for Swedish membership of the euro among the general population is low.
A more secure version with the same portrait was printed from 2006 to 2011 and became invalid after 30 June 2016. A 100-krona banknote (3rd design since 1898) was printed 1986–2000 with a portrait of the botanist Carl Linnaeus and on the reverse was a drawing of a bee pollinating a flower.
The second design was printed 1958 and featured a portrait of Gustav VI Adolf, and became invalid after 31 December 1991. === 2015 series === On 6April 2011, the Riksbank announced the names of the persons whose portraits would decorate the new series of banknotes that would be introduced in 2015.
The three currencies were on the gold standard, with the krona/krone defined as of a kilogram of pure gold. After dissolution of the monetary union in August 1914, Sweden, Denmark, and Norway all decided to keep the names of their respective and now separate currencies. == Coins == === Contemporary === On 11September 2012, the Riksbank announced a new series of coins with new sizes to replace the 1- and 5-krona coins which arrived in October 2016.
The strongest the krona has been relative to the euro was on 13 August 2012 when one euro bought 8.2065 SEK.
The weakness in the euro was due to the crisis in Greece which began in July 2012 and fear of further spreading to Italy and Spain.
Also the Swish mobile payment system was established in Sweden in 2012 and become a popular alternative to cash payments. Although many countries are performing larger and larger share of transactions by electronic means, Sweden is unique in that it is also reducing its cash in circulation by a significant percentage.
The banknote became invalid after 31 December 2013.
The Vasa banknote without security thread became invalid after 31 December 2013 at which time there was only 10 million in circulation.
In September 2013, support fell as low as 9%.
The Vasa 1,000-krona banknote without the foil strip became invalid after 31 December 2013, and the pieces with the foil strip are invalid after 30 June 2016.
According to Bank for International Settlements the last year Sweden was surpassed in cash on a per capita basis converted to United States dollars by USA in 1993, the Euro Area in 2003, Australia in 2007, Canada in 2009, United Kingdom and Saudi Arabia in 2013, South Korea in 2014, Russia in 2016, and Mexico in 2019.
According to Bank for International Settlements the last year Sweden was surpassed in cash on a per capita basis converted to United States dollars by USA in 1993, the Euro Area in 2003, Australia in 2007, Canada in 2009, United Kingdom and Saudi Arabia in 2013, South Korea in 2014, Russia in 2016, and Mexico in 2019.
Replacement banknotes featuring Dag Hammarskjöld became valid on 1 October 2015, but were circulated in considerably fewer quantities (less than 3.5 million), thus reducing the supply of cash in Sweden. The 10,000-krona banknote was always printed in small quantities as it was one of the most valuable banknotes in the world.
The second design was printed 1958 and featured a portrait of Gustav VI Adolf, and became invalid after 31 December 1991. === 2015 series === On 6April 2011, the Riksbank announced the names of the persons whose portraits would decorate the new series of banknotes that would be introduced in 2015.
The only party in the Riksdag that supports Swedish entry in the euro (as of 2015) is the centrist Liberal Party. == Banknotes and coins per capita in circulation == Sweden is a wealthy country and in the 1970s and 1980s the value of banknotes and coins per capita was one of the highest in the world.
Possible discrepancies with these statistics and other sources may be because some sources exclude "commemorative banknotes and coins" (3.20% of total for Sweden in 2015) and other sources exclude "banknotes and coin held by banks" (2.68% of total for Sweden in 2015) as opposed "banknotes and coin in circulation outside banks". Circulation levels of cash on a per capita basis, are reduced by 51% from the high in 2007 compared to 2018.
Annual withdrawals from Swedish ATMs in 2015 amount to 15,300 kronor per capita.
The Swedish krona was the ninth-most traded currency in the world by value in April 2016. One krona is subdivided into 100 öre (singular; plural öre or ören, where the former is always used after a cardinal number, hence "50 öre", but otherwise the latter is often preferred in contemporary speech).
The three currencies were on the gold standard, with the krona/krone defined as of a kilogram of pure gold. After dissolution of the monetary union in August 1914, Sweden, Denmark, and Norway all decided to keep the names of their respective and now separate currencies. == Coins == === Contemporary === On 11September 2012, the Riksbank announced a new series of coins with new sizes to replace the 1- and 5-krona coins which arrived in October 2016.
A new design of 2-krona coins will be issued in 2016. Currently all the old krona coins are invalid since 2017, and they can not be used for payments, nor can they be exchanged for legal tender in any bank, and are instead instructed to be recycled as metal. In 1954, 1955 and 1971, five-krona silver coins were produced, with designs similar to contemporary 1- and 2-krona coins.
All remaining five-krona and ten-krona banknotes became invalid after 31 December 1998. An exhaustive list of every banknote design since 1874 is not included, but the following five designs were or will be retired in 2016–2017.
A more secure version with the same portrait was printed from 1997 to 2008 and became invalid after 30 June 2016. A 50-krona banknote (3rd design since 1896) was printed 1996–2003 with a portrait of the singer Jenny Lind and on the reverse was a picture of a silver harp and its tonal range.
A more secure version with the same portrait was printed from 2006 to 2011 and became invalid after 30 June 2016. A 100-krona banknote (3rd design since 1898) was printed 1986–2000 with a portrait of the botanist Carl Linnaeus and on the reverse was a drawing of a bee pollinating a flower.
The Vasa banknotes with the security thread became invalid after 30 June 2016 at which time there was under 4 million in circulation.
The Vasa 1,000-krona banknote without the foil strip became invalid after 31 December 2013, and the pieces with the foil strip are invalid after 30 June 2016.
According to Bank for International Settlements the last year Sweden was surpassed in cash on a per capita basis converted to United States dollars by USA in 1993, the Euro Area in 2003, Australia in 2007, Canada in 2009, United Kingdom and Saudi Arabia in 2013, South Korea in 2014, Russia in 2016, and Mexico in 2019.
In 2017 the price of gold is 365,289 kronor per kg.
So one öre in 1873 bought as much gold as 1.47 krona in 2017.
Nonetheless, all previous mintages of 1- and 2-krona coins were still legal tender until 2017, since 1875 and 1876, respectively, though 2-krona coins were extremely rarely seen in circulation as they have not been issued since 1971.
A new design of 2-krona coins will be issued in 2016. Currently all the old krona coins are invalid since 2017, and they can not be used for payments, nor can they be exchanged for legal tender in any bank, and are instead instructed to be recycled as metal. In 1954, 1955 and 1971, five-krona silver coins were produced, with designs similar to contemporary 1- and 2-krona coins.
A more secure version with the same portrait was introduced in 2001 and became invalid after 30 June 2017. A 500-krona banknote (a new denomination) in a blue shade was introduced in 1985 with a portrait of King Charles XI and on the reverse an engraving depicts Christopher Polhem, the "father of Swedish engineering".
A more secure version with the same portrait was introduced in 2001 and became invalid after 30 June 2017.
The average exchange rate since the beginning of 2002 when the euro banknote and coins were issued and 1 March 2017 was 9.2884 SEK/EUR. == Relationship to the euro == According to the 1994 accession treaty (effective 1 January 1995), Sweden is required to join the eurozone and therefore must convert to the euro once the convergence criteria are met.
Possible discrepancies with these statistics and other sources may be because some sources exclude "commemorative banknotes and coins" (3.20% of total for Sweden in 2015) and other sources exclude "banknotes and coin held by banks" (2.68% of total for Sweden in 2015) as opposed "banknotes and coin in circulation outside banks". Circulation levels of cash on a per capita basis, are reduced by 51% from the high in 2007 compared to 2018.
According to Bank for International Settlements the last year Sweden was surpassed in cash on a per capita basis converted to United States dollars by USA in 1993, the Euro Area in 2003, Australia in 2007, Canada in 2009, United Kingdom and Saudi Arabia in 2013, South Korea in 2014, Russia in 2016, and Mexico in 2019.
As of 2019 Sweden is still circulating more cash per person (converted to USD) than Argentina, Brazil, Turkey, India, Indonesia, and South Africa. The tables show the value of the banknotes and coins per capita for participating countries on Committee on Payments and Market Infrastructures (CPMI).
It is our statutory duty and we will of course continue to live up to it," concluded Deputy Governor Cecilia Skingsley. In December 2020, Sweden's Minister for Financial Markets Per Bolund announced a government review to explore the feasibility of moving to a digital currency that is expected to be completed by the end of November in 2022.
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