Sweden has not adopted the Euro, but retains the Krona instead. The Swedish Krona has the currency code SEK and has been the currency of Sweden since the 19th century.
Until 1873, the official currency in Sweden was the Riksdaler. The Riksdaler became obsolete when the Scandinavian Monetary Union accepted Sweden, along with Norway and Denmark as a member. At that point, the Riksdaler was replaced by the Swedish Krona. Today, these “crown” currencies are still found all across Scandinavia, by the way.
Sweden later chose to keep the name Krona when the Scandinavian countries broke apart into different currencies during World War I.
The plural of krona is kronor and one krona is divided into 100 re. This Swedish currency is sometimes informally referred to as the “Swedish crown” and is abbreviated “kr.” (seen on price signs of local shops in Sweden.) The inflation rate in Sweden averages just over 1.9%, not counting major economic downturns, of course.
Make sure to find out about the foreign currency you’ll need, otherwise you might find yourself short of cash abroad.
Xe.com offers quick conversion calculations for all travelers’ needs, with any monetary currency you might think of of course, including the Swedish Krona. Knowing the exchange rate will also come in handy when you estimate your trip expenses, plan for the cost of activities at your travel destination, or check out hotel prices for your vacation in Sweden.
The Central Bank of Sweden is called Sveriges Riksbank, led by an executive board consisting of six members.
Be careful to use the money you have in ways that are wise and similar to the locals in Sweden, at least when it comes to tipping! There is no obligation to leave a tip in Sweden, and gratuity for service charges like hotel staff or hairdressers is already included in your total bill.
So, in a way, tipping is not expected for these type of services in Sweden – with two exceptions: Swedish tipping customs changes when you go out to eat or drink. It’s common to leave a rather small tip of 5 to 10% in a restaurant, bar, or cafe. In Sweden, it’s easy to leave a tip, at least. You tip by rounding up the amount of the bill.
So if you visit a restaurant and find the service exceeding your expectations, round up the amount you’re paying e.g. from 46,10.- to an even 50.- The service staff will certainly appreciate it and you will receive friendlier service, along with a deeper appreciation for visitors in Sweden. Thanks.