What Currency Is SEK?

SEK is the Swedish Krona. Learn where it’s used, how it works, and tips for managing your money in Sweden.

What currency is SEK?

If you’ve seen the abbreviation SEK while booking a trip, making an international payment, or browsing foreign e-commerce sites, you might be wondering what it means. This guide is written for travellers, importers, finance professionals, and international shoppers. We’ll explain what the SEK currency is, where it’s used, how it works, and how to manage it effectively.

SEK: Swedish Krona – The currency of Sweden

SEK stands for Sveriges Riksbank Krona, commonly known in English as the Swedish Krona. It is the official currency of Sweden and has been in use since 1873. The name “krona” translates to “crown” in English, which is why it is often informally referred to as the Swedish crown.

  • Currency code: SEK

  • Symbol: kr

  • Subunits: 1 krona = 100 öre (though öre coins are no longer in circulation)

You may see prices displayed as kr, SEK, or simply as numbers followed by “:-” in Swedish shops or websites.

Who uses SEK?

The Swedish Krona is the only legal tender in Sweden, used for all transactions across the country—from Stockholm to Gothenburg, Malmö to Kiruna. While Sweden is a member of the European Union, it has not adopted the euro, and continues to use the krona as its national currency.

SEK is not used outside Sweden. Neighbouring countries such as Norway and Denmark use their own separate currencies (NOK and DKK respectively), despite similarities in naming.

Coins and banknotes in circulation

  • Coins: 1 kr, 2 kr, 5 kr, 10 kr

  • Banknotes: 20 kr, 50 kr, 100 kr, 200 kr, 500 kr, 1,000 kr

Swedish banknotes feature prominent cultural figures such as Astrid Lindgren and Ingmar Bergman, while coins use imagery like the Swedish crown and the royal monogram.

How the SEK operates

Sweden’s central bank, Sveriges Riksbank, is responsible for managing the krona. It operates under a free-floating exchange rate system, meaning SEK’s value fluctuates based on market demand, interest rates, and economic performance.

As of 2024, exchange rates typically range between:

  • SEK 10.5–12.5 per US Dollar

  • SEK 11.5–13.5 per British Pound

These rates change based on global market forces, inflation, and Sweden’s economic data.

Benefits and considerations of using SEK

Advantages:

  • Stable and trusted: Sweden has a strong economy and a transparent, independent central bank.

  • Widespread digital acceptance: Sweden is one of the most cashless societies in the world.

  • Clear pricing: All domestic goods and services are priced in SEK.

Considerations:

  • Not part of the eurozone: Travellers from euro-using countries must exchange currency.

  • Currency confusion: SEK can be mistaken for DKK or NOK due to similar naming conventions.

  • Fluctuating exchange rates: Especially relevant when making large transactions or currency conversions.

Common misconceptions about SEK

A common myth is that Sweden uses the euro. While Sweden is in the EU, it has opted out of the eurozone, following a public referendum in 2003. All payments in Sweden must be made in kronor, not euros.

Another misunderstanding is that cash is required in Sweden. In fact, Sweden is one of the most digital-payment-friendly countries globally. Many shops, cafés, and even buses do not accept cash at all—card or mobile payment is often the only option.

Tips for managing SEK

  • Use a debit or credit card for nearly all purchases—Visa and Mastercard are widely accepted.

  • Withdraw small amounts of cash if needed, but expect most businesses to prefer cards.

  • Use a currency converter to check real-time rates when spending or transferring money.

  • Avoid exchanging currency at airports—rates tend to be less favourable than local banks or using ATMs.

  • Choose to pay in SEK when using cards abroad to avoid poor dynamic currency conversion rates.

FAQs

Can I use euros in Sweden?
No. All payments must be made in Swedish Kronor (SEK). Euros are not accepted in shops or restaurants.

Is SEK accepted outside Sweden?
No. It is not a global currency and must be converted before use in other countries.

Are tips expected in Sweden?
Tipping is not required, but small tips (rounding up or adding 5–10%) are appreciated for good service.

Should I exchange SEK before arriving or after?
It’s usually better to withdraw SEK from an ATM in Sweden or use a card with favourable international rates.

Real-life example

A traveller from the UK visits Stockholm with £500. Rather than exchanging it all before departure, they use a travel debit card to withdraw SEK 6,700 from a bank ATM. They pay for transport, dining, and attractions using contactless card payments. In one café, they discover it’s card-only—no cash accepted. By using SEK and avoiding dynamic currency conversion, they minimise fees and simplify spending.