The krona is the official currency of Sweden whose ISO 4217 code is SEK. 1 crown is formally divided into 100 öre. Today in use there are coins of 1, 2, 5, 10 kroons and banknotes of 20, 50, 100, 200, 500, 1000 kroons. Coins denominated in öre are currently not issued. The currency abbreviation is kr and the note producer is Tumba Bruk and the Mint of Finland (The Mint of Sweden was acquired by the Mint of Finland. Due to unprofitability, the Mint of Sweden is closed). Today, Sweden uses a freely floating exchange rate regime, and inflation indicators serve as a criterion for the effectiveness of exchange rate policy.
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