USD/SEK – Live and Historical Rates
The US Dollar does not form a major or a commodity pair with the Swedish Krona. The USD is obviously a major currency while the SEK is not. The trading volumes on the pair are not very significant. The chart on this page shows the amount of SEK it requires to purchase a USD.
The US Dollar is the top currency in the world, trading volumes-wise as well as in regards to reserve-currency status. Most of the world’s money is indeed held in USD and there’s more of it outside the US than there is within. Besides the US proper, 7 other countries use the USD as their national currency. A total of 23 countries have their currencies pegged to the USD. At one point, before the floating craze which began in the 1970s, all currencies were pegged to the USD. The USD is still the currency in which important commodities (such as gold and oil) are exclusively traded.
The Swedish Krona was introduced way back in 1873, when the Scandinavian Monetary Union was in effect. The Krona (which means “crown”) was used by Norway and Denmark too. Back then, the currency was on the gold standard. Although the monetary union has long disappeared since, all three countries have continued using the Krona, and to this day, all of them have stuck to it, despite the fact that Sweden and Denmark have become EU members. In regards to adopting the Euro, Denmark has a treaty-exception, while Sweden is theoretically compelled to join the common currency at one point, but thus far, it has shown little interest in doing so.
Due to Sweden’s close ties with the EU and within it, with the Eurozone, the USD/SEK pair is closely correlated with the EUR/USD one. Given the special relationship Sweden also has with the other Scandinavian countries though, the krone does sometimes entail some independent variance.
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