Course EUR(Euro)-SEK(Swedish Krona) for today

Euro

The central bank in Europe is called the European Central Bank (ECB). Currently, 17 EU member states have adopted the Euro. It is the second-most traded currency on the forex market, after the US Dollar, and also a major global reserve currency. Other common names for the Euro include Yoyo (Irish English), Leru (Spanish), and Ege (Finnish).

• Central bank: The European Central Bank
• The euro is used by over 320 million Europeans and 17 nations in the eurozone (euro area).
• Over 175 million people use currencies pegged to the euro, such as the Danish krona (DKK) and West African CFA franc (XOF).
• Eurozone economies vary widely. Germany is the largest economy, and a leading world exporter. Other economies (Ireland, Greece) endure sovereign debt and severe government austerity measures.

Swedish Krona

Early Currency in Sweden During the medieval period, Sweden used silver currency. In 1625, however, copper coins were introduced and the currency system was switched to a bimetallic standard. In 1745, Sweden suspended its copper standard, issued irredeemable banknotes, and imposed an in-convertible paper standard. Due to inflation and major economic problems, the currency depreciated and Sweden returned to the silver standard system in 1776.

• Central bank: Sveriges Riksbank (Swedish National Bank).
• The Swedish krona (meaning “crown”) is a floating currency.
• Sweden is required to adopt the euro at some point, but has not met preconditions to join ERM II and peg the krona to the euro. Swedes rejected adopting the euro in a 2003 referendum.
• Sweden has a modern, high-tech market economy. Exports include machinery (35%), motor vehicles, paper products, pulp and wood, iron and steel, chemicals.