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EURSEK - Euro Fx/Swedish Krona Forex Forward Rates -
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EUR/SEK Exchange rate
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EURSEK Top Correlation
Develop and improve products. List of Partners vendors. In the foreign currency exchange marketplace, SEK is the abbreviation for the Swedish krona which is the national currency of Sweden. It is among the top currencies currently trading in the world Forex FX market.
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The krona, which means crown in Swedish, has been Sweden's currency since and is also expressed by the symbol KR. It replaced the Swedish riksdaler. The exchange rate of SEK depends heavily on the monetary policy of Sweden. The country's central bank is known as the Sveriges Riksbank, the world's third oldest bank, and the oldest central bank.
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In , Sweden implemented a floating exchange rate for SEK, and it has been allowed to float against other currencies since then, with the Sveriges Riksbank occasionally intervening to stabilize the krona. While most countries in the European Union have adopted the euro, Sweden, like Denmark and Norway, is one of a handful of EU member nations that have opted to maintain their legacy currencies.
Even though the Treaty of Maastricht holds Sweden responsible for eventual conversion to the Euro, a referendum in found 56 percent of voters opposed the new currency, and the country has since held off joining the Euro by avoiding specific necessary monetary requirements that would require it.
Reference rates over last four months - Swedish krona (SEK)
The government has said it will not bring a new referendum on the issue until it has sufficient popular support, but the appetite for the Euro has only decreased. Although there is still occasional debate on the subject, it appears there are no plans for conversion anytime soon.
Despite Sweden's relatively small economy, its well-educated and tech-savvy workforce and the fact that it is home to many multinational corporations have led many Forex observers to classify SEK as a safe haven currency. A safe haven is expected to retain or increase in value during times of market turbulence.