Are you an outdoorsy person who is always looking for exciting adventures? Then, plan your next trip to Sweden. You can enjoy the forest, avail adventurous sports like kayaking and skiing, or explore the history and culture.
The country is known for its welcoming and calming environment attracting tourists worldwide.
Along with "what to do" and "where to go" in Sweden, you also need to know "what currency is used in Sweden." The official currency of Sweden is the Swedish Krona, and it is denoted by SEK or Kr.
SEK, or the Swedish Krona, was introduced in the early 1870s by replacing the riksdaler at par. And it is the formation of the Scandinavian Monetary Union that resulted in the adoption of this currency.
Only the three countries under the Scandinavian union that is Norway, Denmark, and Sweden, use Krone/Krona. These currencies were linked to the gold standard; this meant the value was equivalent to 1/2480. Even when the monetary union was dissolved in August 1914, these countries decided to keep using the same currency.
During the First World War, iron coins replaced bronze due to the shortage of metal. And again, during the Second World War, the Swedish government made changes to their coins because of the same reason.
Until 1966, 2 Krona coins contained more silver than their worth. Unfortunately, investors purchased and melted down these, which tremendously affected the Swedish economic market.
Recently, in 2016, a new variant of 2 Krona coins was released and has been circulating since then.
In 1874 the available banknotes were 1, 5, 10, 50, 100, and 1000 Kr. Later the notes of 5Kr. and 10Kr. were removed and became worthless after 1998. However, the coins of the values were in circulation.
And today, the banknotes are available in 20, 50, 100, 200, 500, and 1000 Kr. While the coins of 1, 2, 5, and 10 Kr. are in circulation.
Swedish krona is only used in Sweden, but the origin of this currency involves two other countries.
As mentioned above, Krone/Krona is the currency that emerged from the Scandinavian Monetary Union. Hence, Denmark and Norway use the Krone as their national currency.
You can buy Australian Dollars in banks, bureau de change, international airports, and even in hotels. However, these processes are either tedious or expensive. You may come across several issues like:
However, all these facilities have some common disadvantages. They will add some hidden charges to your transactions in one way or another. And you end up getting a lesser amount than what you should against your money.
To avoid the drawbacks of these traditional methods, you can choose an online alternative. One such trusted online organization is The Currency Club.
Benefits you get by choosing us are:
The method of application is simple, fast, and accessible.
We provide reasonable exchange rates compared to their competitors.
You can check the interbank rates before transactions.
We also have a fixed fee model that we apply according to your requirements.
Are you ready to plan your trip to Sweden?
Let's begin by checking how much you will need to spend daily and where you can save.
Taxi: In Sweden, you can get public buses, trains, and even coast ferries. The cost of a taxi fare is comparatively more than in other modes of transportation. On average, people spend 158 Kr for daily transportation. You can also get a bus card for 200 Kr to save some bucks.
Meal: If you choose to dine out, it may cost you around 113 Kr. per person. However, it can vary on people's spending habits and the restaurant's rate. On average, a single person spends 283 Kr on food.
Hotel: The average cost for one-person accommodation in a standard hotel is 589 Kr. While for a double occupancy room, the average cost is 1178 Kr.
Yes, you can avail of ATM facilities in Sweden. But it is necessary to note that Sweden is the most cashless country in the world. And most of the country's banks have stopped transactions in cash. However, you can use credit cards everywhere, including shops, museums, taxis, car rentals, restaurants, hotels, etc.
All the major credit cards are accepted in Sweden, but there might be some restrictions on American Express.
Summary
There's a mandatory requirement for obtaining a visa for Sweden: to have 450 Kr for each day to spend. Although it is a country promoting cashless transactions, it is safe to carry some cash in hand.
So now that you know what currency is used in Sweden and all related information. You are all set to prepare for your trip and begin it by buying Swedish Korna from The Currency Club. We will make the process extremely simple and provide you with the most out of your GBP.
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