Glossary Term

SEK

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SEK is the currency abbreviation for Sweden’s official currency, the krona. Replacing the Swedish riksdaler, SEK took centerstage in 1873 and has since remained the country’s official currency. The strength and performance of the currency is heavily correlated to the other Nordic countries as well as to the monetary policy implemented by the country’s central bank, Sveriges Riksbank. SEK is one of the very few currencies that did not adopt the euro as their official currency. A 2003 referendum showed 56% of voters wanted to keep the krona. Market experts view SEK as a safe haven currency, a currency that is anticipated to maintain or even increase in value in times of market uncertainty.

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