SEK to ISK

SEK - Swedish Krona (kr)
ISK - Icelandic Króna (ISK)
1 SEK1 ISK

Currency conversion rates from SEK to ISK

SEKISK
1 SEK1 ISK
5 SEK5 ISK
10 SEK10 ISK
20 SEK20 ISK
50 SEK50 ISK
100 SEK100 ISK
250 SEK250 ISK
500 SEK500 ISK
1000 SEK1000 ISK
2000 SEK2000 ISK
5000 SEK5000 ISK
10000 SEK10000 ISK
ISKSEK
1 ISK1 SEK
5 ISK5 SEK
10 ISK10 SEK
20 ISK20 SEK
50 ISK50 SEK
100 ISK100 SEK
250 ISK250 SEK
500 ISK500 SEK
1000 ISK1000 SEK
2000 ISK2000 SEK
5000 ISK5000 SEK
10000 ISK10000 SEK

ISK - Icelandic Króna (kr)

Icelandic Króna

The Krona is the official currency of Iceland, a island country in the North Atlantic Ocean, situated over the Mid-Atlantic Ridge. The island is volcanically and geologically active because it straddles the spreading boundary of the North American and European tectonic plates. The capital and largest city is Reykjavík, with the city’s surrounding areas in the southwest region of the country home to two thirds of the country’s population.

The Icelandic Krona is the currency in Iceland (IS, ISL). The Icelandic Krona is also known as Kronas. The symbol for ISK can be written IKr. The Icelandic Krona is divided into 100 aurar. The exchange rate for the Icelandic Krona was last updated on January 18, 2019 from The International Monetary Fund. The ISK conversion factor has 6 significant digits.

Economy

  • Except for its abundant hydroelectric and geothermal power, Iceland lacks natural resources.
  • Historically, Iceland depended heavily on fishing, which still provides 40% of export earnings and employs 7% of the workforce despite declining fish stocks.
  • Abundant hydro-electric capacity has allowed Iceland to encourage power-intensive industries, including aluminium and ferro-silicon smelting plants.
  • In the 1990s, Iceland introduced extensive free market reforms and as a result gained some of the world’s highest ratings for economic and civil freedoms and egalitarianism, and was applauded for its strong economic growth and rapidly expanding financial system.
  • By 2007, the country was ranked: seventh in the list of the world's most productive countries per capita, at U.S. $ 54,858; and fifth in GDP purchasing power parity ($ 40,112). That same year it topped the list of nations ranked by Human Development Index (HDI).
  • As early as 2006, Iceland’s economy was facing problems of growing inflation and current account deficits, partly as a result of the earlier free market reforms. In 2008, the financial system collapsed entirely in a sweeping financial crisis precipitated by bank failures. Iceland had to obtain emergency funding from the International Monetary Fund and a range of European countries in November 2008.

History

  • The Króna is composed of 100 aurar, although coins in any denomination less than one króna have not circulated since 2003.
  • The Danish Krone was introduced in Iceland in 1874, replacing the earlier Danish currency, the rigsdaler. In 1885, Iceland began to issue its own banknotes.
  • The Iceland Króna was issued separate from the Danish Krone after the dissolution of the Scandinavian Monetary Union at the beginning of World War I, and Iceland’s autonomy from Denmark in 1918.
  • The first coins were issued in 1922, in denominations of 10 and 25 aurar. These were followed in 1925 by 1-króna and 2-krónur coins, and in 1926 by 1-eyrir, 2-aurar and 5-aurar coins.
  • In 1946, the design of all coins was altered to remove the royal monogram, after Iceland's independence from Denmark was precipitated by Denmarks’ occupation by Nazi Germany.
  • In 1981, the Iceland Krona was revalued, with 100 old krónur (ISJ) valued at 1 new Iceland Krona (ISK).
  • In 1981, coins were introduced in denominations of 5, 10 and 50 aurar, 1 króna and 5 krónur. These were followed by 10 krónur pieces in 1984, 50 krónur in 1987 and 100 krónur in 1995.
  • As of 1 October 2003, Icelandic banks no longer accepted the 5, 10 and 50 aurar coins.

More information about ISK - Icelandic Króna (kr)


SEK - Swedish Krona (kr)

The Swedish krona (plural: kronor) is the official currency of Sweden. Its commonly used code is SEK and its symbol is ‘kr’. The most popular krona exchange is with the euro. The krona is the ninth most traded currency in the world. Its currency conversion factor has 6 significant digits. The krona is a fiat currency.

The Swedish Krona has been the currency of Sweden since 1873. It is issued by the Swedish central bank, Sveriges Riksbank. In English, the currency is sometimes referred to as the Swedish crown (Krona means crown in Swedish).

The Swedish Krona is the currency in Sweden (SE, SWE). The Swedish Krona is also known as Kronas. The symbol for SEK can be written kr, Sk, and Skr. The Swedish Krona is divided into 100 ore. The exchange rate for the Swedish Krona was last updated on Today from The International Monetary Fund. The SEK conversion factor has 6 significant digits.

Economy

  • Sweden has achieved an enviable standard of living, due to high-tech capitalism, extensive social benefits, a modern distribution system, and a highly skilled labor force.
  • The economy is heavily oriented to foreign trade, utilizing a resource base of timber, hydro power, and iron ore.
  • The global economic crisis of 2008 reduced export demand and consumption, causing the Swedish economy to slide into recession despite its strong finances and underlying fundamentals. Strong commodity exports contributed to a strong rebound in 2010-2011.

History

  • The Swedish Krona was introduced in 1873, replacing the Riksdaler at par. The currency was introduced as a result of the Scandinavian Monetary Union with Norway and Denmark, which lasted until World War I. Currencies under the treaty were under the gold standard.
  • The Monetary Union ended with the outbreak of World War I in 1914. Sweden abandoned the gold standard on August 2, 1914, and without a fixed exchange rate the union came to an end.
  • By treaty, Sweden is required to join the eurozone and convert to using the Euro. However, most Swedes are opposed to adopting the currency. On September 14, 2003, 56% of a high turnout of voters rejected adopting the Euro. Taking advantage of a loophole, the Swedish government has opted not to join ERM II, a precondition to adopting the Euro.

More information about SEK - Swedish Krona (kr)