The currency of Sweden is the Swedish krona (ISO code SEK), written as "kr" and pronounced "krona" in the singular and "kronor" in the plural. One krona divides into 100 öre, though öre coins have been withdrawn from circulation. As of 2026, one US dollar buys roughly 10.5 kronor, while one euro trades for around 11.5 kronor. The krona is issued by Sveriges Riksbank, the central bank of Sweden, and it remains a fully independent national currency despite Sweden's membership in the European Union.
Why Sweden Uses the Krona and Not the Euro
Sweden joined the European Union in 1995 and is technically obligated by treaty to eventually adopt the euro. However, in a 2003 national referendum, Swedish voters rejected the single currency, with roughly 56% voting against it. Sweden has since chosen not to join the ERM II exchange-rate mechanism, a prerequisite for euro adoption, effectively keeping the krona indefinitely. This independence lets the Riksbank set its own interest rates and respond to Sweden's specific economic conditions rather than those of the wider eurozone. The krona therefore stands alongside the British pound, Danish krone, and Norwegian krone as one of Northern Europe's enduring non-euro currencies.
Banknotes and Coins in Circulation
The current banknote series, introduced in 2015 and 2016, broke with tradition by featuring beloved cultural figures instead of monarchs. The denominations are:
- 1,000 kr — blue, depicting Dag Hammarskjöld, the former UN Secretary-General
- 500 kr — red, honoring opera soprano Birgit Nilsson
- 200 kr — green, showing filmmaker Ingmar Bergman
- 100 kr — blue, featuring actress Greta Garbo
- 50 kr — yellow, with troubadour and poet Evert Taube
- 20 kr — purple, picturing author Astrid Lindgren, creator of Pippi Longstocking
Coins are minted in 1 kr, 5 kr, and 10 kr denominations. Each banknote is also tied to a Swedish region or landscape associated with the person it portrays, and the notes carry advanced security features such as a motion strip and colour-shifting ink.
One of the World's Most Cashless Economies
Sweden is famous for its near-total shift away from physical money. Cash now accounts for only a small share of transactions, and many shops, cafés, museums, and even churches display signs reading "Vi tar inte kontanter" ("We don't accept cash"). The dominant payment methods are contactless cards and Swish, a mobile app launched in 2012 by Swedish banks that lets people transfer money instantly using just a phone number. Swish is so widespread that street vendors, flea markets, and buskers commonly accept it. Because of this, the krona increasingly exists as digital balances rather than notes and coins, and the Riksbank has been piloting a state-backed digital currency known as the e-krona to ensure the public still has access to central-bank money in a cashless age.
A Currency With a Long History
The krona, meaning "crown," was introduced in 1873 when Sweden, Denmark, and Norway formed the Scandinavian Monetary Union and pegged their currencies to a common gold standard. The union dissolved during World War I, but all three countries kept the "crown" name for their separate currencies, which is why the names look so similar today. Sweden's monetary heritage runs even deeper: Stockholms Banco issued Europe's first paper banknotes in 1661, and Sveriges Riksbank, founded in 1668, is the oldest central bank in the world. This blend of historic firsts and cutting-edge digital payments makes the krona one of the most interesting currencies to study. For more on the country itself, see our sweden country guide.
Tips for Travelers Using Swedish Currency
If you are visiting Sweden, a credit or debit card is essential and will be accepted almost everywhere, including on public transport and in taxis. Carrying a small amount of cash is optional and increasingly unnecessary, though it can occasionally help in remote rural areas. Currency exchange is available at airports and through providers such as Forex, but withdrawing kronor from an ATM (called a "Bankomat") or simply paying by card usually offers better value. International tourists generally cannot use Swish, since it requires a Swedish bank account and personal identity number, so a contactless card remains the most practical option.
Frequently Asked Questions
What is the currency symbol for the Swedish krona?
The Swedish krona is abbreviated as "kr" and carries the ISO code SEK. Prices are typically written as "100 kr" or "SEK 100."
Does Sweden use the euro?
No. Although Sweden is part of the European Union, voters rejected the euro in a 2003 referendum, and the country continues to use its own currency, the krona.
Is Sweden really a cashless country?
Almost entirely. Card and mobile payments dominate, and many businesses refuse cash outright, making Sweden one of the most cashless societies on Earth.
How much is one US dollar in Swedish kronor?
As of 2026, one US dollar is worth roughly 10.5 Swedish kronor, though the exchange rate fluctuates daily with currency markets.