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The Krona is the official currency of Sweden, and is sometimes referred to as the Swedish crown, as krona literally translates as crown.The Swedish krona is one of the most traded currencies in the world. One krona may be subdivided into 100 öre. However, all öre coins were discontinued since 2010, and although goods can still be priced in öre, but all sums are rounded to the nearest krona when paying with cash.
The introduction of the krona, which replaced riksdaler, was a result of the Scandinavian Monetary Union, which began in 1876 and lasted until World War I. The parties to the union were the Scandinavian countries, where the name was krona in Sweden and krone in Denmark and Norway. The three currencies were on the gold standard. After dissolution of the monetary union in 1914, Sweden, Denmark, and Norway all decided to keep the names of their respective and now separate currencies.
It is estimated that about 2,000 years ago, the Svear people gave Sweden its name. In their language, svear meant us and rike meant kingdom. So, Sverige, the modern Swedish name of the country, actually means Our Kingdom.
Fancy catching some music on your trip? According to the Swedish Choir Union, roughly 600,000 Swedes sing in choirs, and the union represents 500 choirs! This gives Sweden the highest number of choirs per capita in the world.
The Swedish Krona is the official currency of Sweden. The ISO 4127 currency code for the Swedish Krona is SEK.