Sweden Currency Exchange Guide

Sweden is an enchanting destination for tourists exploring a country of stunning natural beauty. You can enjoy some of Europe’s most spectacular landscapes, from the snow-capped alpine mountains to lush green valleys. Not only that, but Sweden’s diverse cities also provide plenty of opportunities to experience delicious cuisine, fascinating culture and interesting history. Whether you’re embarking on a wilderness trek or planning a city break, Sweden is a destination that promises something for everyone.

General Sweden Currency Information

What is the currency of Sweden?

The official currency of Sweden is the Swedish krona (SEK).

What do Swedish notes & coins look like?

swe notes

The Swedish Krona currently consists of six denominations – 20 kronor, 50 kronor, 100 kronor, 200-kronor, 500 kronor and 1,000 kronor. Since its debut in 2015, these exquisite banknotes have captivated the public with their intricate designs. Utilising a distinct anodised colour for each denomination, the notes feature portraits of some of Sweden’s most renowned figures in culture and beyond – Astrid Lindgren (20kr), Evert Taube (50kr), Greta Garbo (100kr), Ingmar Bergman (200kr), Birgit Nilsson (500kr) and Dag Hammarskjöld (1000kr). Furthermore, each note incorporates abstract illustrations to relay the vibrant nature of Sweden – Småland on the 20-krona note, Stockholm on the 100-krona note and the Laponian area in Lappland on the 1000-krona note.

swe coin

Although Sweden coins come in different denominations, they all share similarities across their designs. As the ultimate symbol of Swedish country and culture, the Three Crowns are featured in each of their obverses but vary slightly depending on the coin. The 1 krona and 2 krona coins both have the initial of the Sweden designer Ernst Nordin (EN), the issue date, and King Carl XVI Gustaf’s portrait (King of Sweden), but also a stylised solar corona that encircles them. The 5 krona gold coin has King Carl XVI Gustaf’s monogram, comprising a crown with his name initials (C – G) under it, with its reverse side, sharing features similar to its copper counterparts. Finally, the 10 krona gold coin has a side portrait of King Carl XVI Gustaf, just like the 1 & 2 krona coins do, with again similar features presented on its reverse side.

Economy

The economy of Sweden is notable for its reliance on exports, with natural resources such as timber, hydropower, and iron ore forming an integral part of this orientation. This has led to the development of critical industries such as telecommunications, motor vehicles, industrial machines, chemical goods, pharmaceuticals, and precision equipment. In addition to this export-oriented approach to the industry, the agricultural sector remains vital in utilising domestic resources.

A competitive open mixed economy characterises the Swedish market with a primarily privately-owned enterprise base. Public sector spending accounts for up to 3/5 of the total GDP – highlighting the strength of Sweden’s welfare state structure. As a result, the economy of Sweden provides employment opportunities within diverse industries in relative stability and prosperity.

Brief currency history

Sweden adopted the krona as its official currency when it joined the Scandinavian Monetary Union in 1873. The SMU linked the countries’ currencies to the gold standard, setting the krone/krona equivalent to 1/2480 kilograms of pure gold and tying exchange rates between Denmark, Norway and Sweden for over thirty years until World War I.

When the SMU dissolved in 1914, Swedish authorities decided to keep the name krona and continue minting their national currency instead of reverting to their previous one. Investors made this decision intending to improve trade networks between Sweden’s neighbouring states.

In 1917-1919, iron replaced bronze, while the 10, 25, and 50 öre coins were swapped for silver in 1920. Silver returned again later, in 1927. The Second World War again saw another shift with metal shortages resulting in improvements to the Swedish coins. Through it all, one thing remained constant; a krona is still equal to 100 öres.

The 10, 25, and 50 öre coins were reissued in nickel-bronze between 1940 and 1947. However, they were changed to iron in 1942 with a decrease in silver content. In 1962 silver was replaced by cupronickel on these three coins. 2-krona coins included 40% silver until 1966, making them worth more than two kronor during this time.

Many of these coins were melted down for investors exploiting market inefficiencies; however, some are preserved today and maintained as collectibles. Most recently, a new design for the 2-krona coin was released in 2016.

The Riksbank, the Swedish central bank, first released notes in 1874; denominations included 1 krona, 5 kronor, 10 kronor, 50 kronor, 100 kronor, and 1000 krona. The one-krona notes were only circulated between 1874 and 1920.

Notably, 10,000-kronor notes were released in 1939 and 1958. The 5-kronor note was phased out in 1981 but replaced with a coin introduced in 1972. Ten-kronor notes stopped being produced in 1991 after the release of the ten-kronor coin. More recently, twenty-kronor notes were added to circulate. As of the 31st of December 1987, any remaining one-krone notes became obsolete, while 5 and 10-krone bills were made worthless on the 31st of December 1998.

The Riksbank became the world’s first central bank to include a security feature of a moving picture in its banknotes, which was featured on the new 1,000 SEK note released in 2006. This improved note had to be circulated until June 2016, with four million already in use. On the 31st of December 2013, all earlier banknotes without the security feature were rendered void and considered worthless for transactions.

Cash payments are starting to decline in Sweden as there has recently been a push towards digital currencies such as the e-Krona. This new digital currency will be managed by the Riksbank and can easily be accessed through a mobile “Swish” app currently used by more than half of the country’s population. While this new e-currency hasn’t entirely replaced cash payments, it looks likely that cash transfers will be gradually phased out over the coming years.

Taking Travel Money to Sweden

swe L

What currency should I take to Sweden?

If you’re travelling to Sweden, you’ll need to exchange your Australian dollars (AUD) for Swedish kronor (SEK) before you leave. Learn more about exchanging AUD to SEK.

Is it better to convert currency in Australia or Sweden?

When travelling from Australia to Sweden, it is more practical to convert Australian dollars to Swedish kronor in Australia. This way, you will immediately have access to the funds and know exactly how much travel money you have before departure. This ensures that you won’t be left without access to funds for essential purchases during your travels.

How much money can I take to Sweden?

When travelling to Sweden, you must consider how much money you take into the country. According to Swedish Customs regulations, travellers must notify the organisation if they are transporting an amount equivalent to 10,000 Euros in cash or assets. Since this is a large sum, travellers may wish to take certain precautions to ensure their funds are secure and accounted for.

Where to convert currency?

When converting foreign currency in Australia, Crown Currency Exchange is the most reliable source. With nearly 20 years of experience in the business, our services are tried and tested and highly accessible with 50 stores across different states. Our competitive AUD to SEK exchange rate guarantees you the most bang for your buck! And, to top it off, no hidden fees or commissions will be charged during currency exchanges – making Crown Currency Exchange an excellent choice for anyone who needs foreign exchange solutions in Australia.

Is tipping customary in Sweden? How much is expected?

When you’re travelling abroad, it’s always helpful to be aware of the customs and tipping etiquette of the country you’re visiting. This is especially true regarding tipping in Sweden, as many people are unsure what is customary and expected. To help you out, here is a comprehensive overview of tipping etiquette in Sweden. 

Hotels: When staying at a hotel in Sweden, you should not expect the service charge to be included in your final bill. However, if the staff went above and beyond in providing excellent service during your stay, it is customary for travellers to leave a small tip of 5-10 kronor (SEK). This will show your appreciation for good service.

Restaurants: When dining out in Sweden, most restaurants add an additional service charge to their bills as part of their standard policy. Therefore, no additional gratuity is necessary if a service charge has been included on top of your meal cost. However, if no service charge is listed on the bill, it is appropriate to leave an additional 5-10% or round up the total amount to the nearest even number as a general sign of appreciation.  

Cafes: At cafes and bistros where table service is provided, you might find tip jars on the counter, as well as payment terminals where you can add tips electronically. In these cases, although not necessary, leaving a tip will show extra appreciation for good customer service from servers who have gone above and beyond.

Spas: It all depends on your experience – if you had a fantastic spa experience, then consider leaving a 5-10% tip as a sign of gratitude. However, it’s not expected or required, so don’t feel obligated to give one if you didn’t have an incredible experience. 

Tour Guides: If your tour guide was beneficial with answering questions and providing informative commentary, you might want to show appreciation by leaving a 10-15% tip for their services. Again, this is entirely optional but will surely be welcomed by the tour guide! 

Taxis: If you take a taxi ride during your stay in Sweden, rounding up the total cost of your ride plus adding a few coins or krona is seen as a polite and generous gesture. This spare change will help the driver with their next customer while showing that you appreciate their hard work. 

What is ATM access like in Sweden?

Sweden offers ample access to ATMs or Bankomats, where you can withdraw cash, as they are locally known. Any cash machine can often be seen as blue fixtures near banks and other public places, so customers should not have difficulty finding one nearby. Merchants may also accept debit and credit cards for transactions, and some ATMs provide the convenience of 24-hour service, making it easy to get cash whenever it is needed.

What should you budget per day?

Budget

The recommended daily allowance for those travelling to Sweden on a budget is 760-800 SEK (AUD $106-112). This figure accounts for economical lodging such as hostel dorms or camping, home-cooked meals, public transportation and engagements with some of Sweden’s more affordable activities. These activities could include visiting museums, going for hikes or joining free walking tours throughout the area as options for low-cost entertainment.

Moderate

Travelling to Sweden on a moderate budget is exciting! With 1,550-1700 SEK (AUD $216-237) per day, you can explore this wonderful country and uncover its hidden wonders. Enjoy a private hostel room with all the amenities of a hotel, and stretch your culinary palette by trying out the tasty food from Swedish restaurants. Treat yourself to the occasional drink while taking a guided tour of the cities and attractions, or find adventure off the beaten path! All this and more can be experienced while embracing the culture and beauty of Sweden.

Luxury

Travelling to Sweden on a luxury budget of 2,500 SEK (AUD $348) or more per day can be a fantastic experience! You can enjoy the finest restaurants, stay in luxurious hotels, and drive around with a rental car. And that’s not all – you can also enjoy various attractions and activities to your heart’s content! You won’t have to worry about cutting corners anymore; your wallet gets some much-deserved rest while your experience soars through the roof.

Currency details

Currency:

Swedish krona

Currency code:

SEK

Currency symbol:

kr

Central bank:

Sveriges Riksbank

Nickname:

bagis, riksdaler, spänn, pix

Currency sub-unit:

öre = 1/100 of a Kroner

Bank notes:

20 kr, 50 kr, 100 kr, 500 kr, 1,000 kr

Coins:

1 kr, 5 kr, 10 kr

Must-do's while you are in Sweden

swe 1

1. Take a Boat Tour of the Canals in Gothenburg 

Gothenburg is one of Sweden’s most beautiful cities, and a boat tour of its canals is an especially great way to explore it. During the tour, you’ll get to admire the city’s stunning architecture and learn about its rich history and culture. Plus, you can enjoy some delicious Swedish delicacies while onboard as well! 

swe 2

2. Ride an Ice Hotel Sleigh 

If you’re looking for something extraordinary, consider riding on an ice hotel sleigh pulled by reindeer! This experience is unlike any other and offers a unique perspective on Swedish nature and wildlife—not to mention the chance to interact with some of the country’s most beloved animals. Plus, you can explore the nearby Ice Hotel for even more wintery fun after your ride! 

swe 3

3. Explore Drottningholm Palace in Stockholm 

Sweden’s royal family has called Drottningholm Palace home since the 1600s, and today, it is a popular tourist destination. Visitors can take guided tours through the palace grounds and explore its stunning gardens and architecture. You’ll also get to see rooms filled with antique furniture that still look just as they did during Queen Victoria Eugenia’s reign over 100 years ago.

swe 4

4. Go on an Aurora Borealis Hunt or Northern Lights Tour

The Aurora Borealis – or Northern Lights – is one of nature’s most mesmerising displays of light shows around northern Europe during select months from September through April. If you’re lucky enough to be in Sweden when this fantastic phenomenon occurs, don’t miss out on the chance to go on an aurora borealis hunt or Northern Lights tour! You’ll be able to witness Mother Nature in all her glory, along with some truly breathtaking views. 

Let's discuss your currency needs

Fill out the form or call us to arrange your complimentary consultation.

© 2024 Crown Currency Exchange.  
All Rights Reserved.

Translate this site