SEK to SZL

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)

SZL - Swazi Lilangeni (SZL)

Swazi Lilangeni

The Swaziland Lilangeni is the official currency of Swaziland and is subdivided into 100 cents. The Lilageni is produced by the Central Bank of Swaziland. In 1974, coins of 1, 2, 5, 10, 20 and 50 cents and 1 Lilangeni were issued; the 1 and 2 cent coins were struck in bronze and the others in cupro-nickel.

The Swazi Lilangeni is the currency in Swaziland (SZ, SWZ). The symbol for SZL can be written L, and E. The Swazi Lilangeni is divided into 100 cents. The exchange rate for the Swazi Lilangeni was last updated on May 24, 2019 from Yahoo Finance. The SZL conversion factor has 5 significant digits.

Economy

• After growing by 3% from 2004 to 2008, the economy in the Swaziland slipped significantly in 2009, primarily due to the effect of the global economic downturn on export-oriented sectors, in particular textiles and wood pulp.
• Other important factors were ongoing drought and low levels of foreign direct investment (FDI). In 2010, the economy recovered slightly due to a rebound in global demand for sugar and textiles.
• However, falling receipts from the Southern African Customs Union (SACU) coupled with lower internal revenues limited the government’s ability to implement counter-cyclical measures.
• In order to control the economic conditions of the previous year, lower interest rates were maintained, similarly to South Africa.

History

• The Lilangeni was introduced in 1974 to compete with the South-African rand through the Common Monetary Area, to which it remains tied at a one-to-one exchange rate.
• According to tradition, the present Swazi nation moved south before the 16th century to an area now called Mozambique.
• After a series of wars with people living in the area of modern Maputo, the Swazis settled in northern Zululand in 1750.

More information about SZL - Swazi Lilangeni (SZL)