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LOCAL CURRENCY IN SWEDEN

Need to know waht is the local currency in Sweden? The local currency in Sweden is called Krona.

The Swedish Krona is issued and managed by the Sveriges Riksbank. To find out the current currency exchange rates for Krona to other major currencies of the world, click on foreign currency rates.

Swedish Currency Information
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The currency used in Sweden is called as the Krona. This currency is denoted with the currency sign kr and the ISO 4217 Code for the Swedish Krona is SEK. The Krona, is the official currency of the Sweden . It is divided into 100 smaller units called öre.

The constitution of Sweden provides that the Sweden government shall have the power to print the Swedish Krona and öre coins to be used as a legal tender in Sweden. The Swedish Krona bank notes and öre coins are both designated as "legal tender" in payment of debts.

The Swedish Krona bill uses the decimal system, consisting of 100 equal units.

The symbol kr, usually written before the numerical amount, is used for the Swedish Krona.

Currently printed bank notes denominations are 20 kr, 50 kr, 100 kr, 500 kr, 1000 kr and the coins are minted in the denominations of 1 kr, 5 kr, 10 kr .

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The Effect of Balance of Trade and Investment on Swedish Krona
Financial analysts regularly cite the balance of trade and investment in Sweden as the most important influence on the value of the Krona. The difference between what the Sweden exports and imports in terms of goods and services to and from other countries can be obtained from a balance of trade statement.

The balance of investment on the other hand represents the difference in exports and imports of capital. If exports from Krona exceed imports from other countries, in either the balance of trade or balance of investments, it is called a surplus. The term deficit is used when the imports into Krona exceed exports to other countries. The points below go into detail to explain on how the balance of trade and balance of investments affect the Swedish Krona.
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