Sweden, a Scandinavian nation, is home to thousands of inland lakes and coastal islands, as well as glaciated mountains and expansive boreal forests. The currency of Sweden is the Swedish Krona (SEK) which is often presented with the symbol kr and is made up of 100 öre. The krona, meaning "crown" in English, is also recognized in Sweden as the "kosing" or "spänn." Sweden doesn't have a minimum wage, but the krona prevails strongly. In 1873, the Swedish krona replaced the riksdaler riksmynt at par when the Scandinavian Monetary Union was established.
The aforementioned union of Denmark and Sweden adopted the gold standard to value the krona at 0.04032% a kilogram of gold. The currencies were separated after WWI and the split-up of the union. Sweden kept its krona. The exchange rate has been approved to float against other currencies since 1992, with the central bank meddling when required to sustain the krona's value. Sweden was anticipated to adopt the euro and join the eurozone as a part of 1995's accession treaty, although most of the citizens and politicians are not in support of adopting the euro. Accordingly, there is no necessity to give up the krona, and as of 2019, there are negative plans to change.
Even though Sweden was held responsible by the Treaty of Maastricht for eventual conversion to the euro, a referendum in 2003 discovered 56% of voters opposed the new currency. The country has since refrained from joining the euro by avoiding particular necessary monetary requirements that would need it. The government has stated it will not bring a new referendum on the matter until it has ample popular support, but the desire for the euro has only reduced. Although there is still occasional dispute on the subject, it seems there are no plans for conversion any day soon.
Despite Sweden's comparatively small economy, its tech-savvy and well-educated workforce, and the fact that it's house to many multinational corporations have driven many Forex observers to distinguish SEK as a safe haven currency. A safe haven is expected to increase or retain in value during periods of market turbulence. Still, global ambiguities, particularly during threats of an international trade war, have brought some losses for the safe-haven krona throughout the last four years. A looser economic policy has caused overall weakness in the Swedish krona from 2015 to 2019.