Krona Meaning: Definition, Examples, and Translations
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krona
[หkroสnษ ]
Definition
currency unit
The term 'krona' refers to the currency unit in Sweden, represented by the symbol SEK. It is also used in Iceland where it is called the Icelandic krรณna (ISK). The Swedish krona is subdivided into 100 รถre, although รถre coins are no longer in circulation. The krona is used in everyday transactions in Sweden and is recognized internationally in the forex market. The name 'krona' translates to 'crown' in English, reflecting its historical royal connections.
Examples of usage
- I exchanged my dollars for kronor before my trip to Sweden.
- The price of this sweater is 500 kronor.
- He saved up 1000 kronor for his vacation.
- The value of the krona has fluctuated against the euro.
Translations
To see the translation, please select a language from the options available.
Origin of 'krona'
The word 'krona' has its origins in the Old Norse word 'krona,' which means 'crown.' The use of the term as a currency dates back to the adoption of various forms of monetary systems in Sweden and Iceland. The Swedish krona was introduced as a modern currency in 1873, replacing the riksdaler at a rate of 1 krona = 1 riksdaler. Similarly, the Icelandic krรณna was introduced in 1885. Both currencies represent a significant aspect of their nations' economies. Over the years, the value of the krona has been influenced by various economic factors, including inflation, local production, and global exchange rates, yet it has maintained its status as a vital and stable currency in the Scandinavian region.