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The main events in the monetary history of the Krona are: Introduction of the Krona, based on the gold standard on 5 May 1873. (1 kg of gold = 2480 Kronor) The tie to gold is abolished on 2 August 1914. The tie to gold is de facto re-established in November 1922. The tie to gold is de jure re-established on 1 April 1924
The krona (Swedish: ⓘ; plural: kronor; sign: kr; code: SEK) is the currency of the Kingdom of Sweden.It is one of the currencies of the European Union.Both the ISO code "SEK" and currency sign "kr" are in common use for the krona; the former precedes or follows the value, the latter usually follows it but, especially in the past, it sometimes preceded the value.
This is a timeline of Swedish history, comprising important legal and territorial changes and political events in Sweden. To read about the background to these events, see History of Sweden . See also the list of Swedish monarchs and list of prime ministers of Sweden .
The word "krone/krona" literally means "crown", and the differences in spelling of the name represent the differences between the North Germanic languages. The political union between Sweden and Norway was dissolved in 1905, but this did not affect the basis for co-operation in the monetary union.
The first European banknotes were issued in 1661 by Stockholms Banco.Founded by Johan Palmstruch, it was a predecessor of Sweden's central bank Sveriges Riksbank. [1] As commercial activity and trade shifted northward in 17th century Europe, deposits at and notes issued by the Bank of Amsterdam denominated in Dutch guilders became the means of payment for much trade in the western world.
The European Exchange Rate Mechanism (ERM II) is a system introduced by the European Economic Community on 1 January 1999 alongside the introduction of a single currency, the euro (replacing ERM 1 and the euro's predecessor, the ECU) as part of the European Monetary System (EMS), to reduce exchange rate variability and achieve monetary stability in Europe.
The referendum resulted in a decision to retain the krone, and also set back plans for a referendum in the UK as a result. [19] The procedure used to fix the irrevocable conversion rate of 340.750 between the Greek drachma and the euro was different, since the euro by then was already two years old. While the conversion rates for the initial ...
An Economic History of Sweden (2000) online edition Archived 17 June 2008 at the Wayback Machine. Moberg, Vilhelm, and Paul Britten Austin. A History of the Swedish People: Volume 1: From Prehistory to the Renaissance, (2005); A History of the Swedish People: Volume II: From Renaissance to Revolution (2005). Nordstrom, Byron J.