Kronor Meaning: Definition, Examples, and Translations
๐ฐ
kronor
[หkrษหnษr ]
Definition
currency unit
Kronor is the plural form of the Swedish currency unit, known as the krone in Norway. It is used for all monetary transactions in Sweden and is an essential part of the Swedish economy. The currency symbol for kronor is 'kr'. The value of the krona can fluctuate, influenced by various factors such as inflation, economic stability, and international trade. It is also commonly exchanged for other currencies in the foreign exchange market.
Synonyms
Swedish currency, currency, krone.
Examples of usage
- The price of the laptop is 10,000 kronor.
- I need to exchange some dollars for kronor.
- Sweden uses kronor as its official currency.
- After the trip to Sweden, I had some kronor left over.
- Kronor has been stable against the euro in recent years.
Translations
To see the translation, please select a language from the options available.
Interesting Facts
Economics
- Sweden has a stable economy, and the kronor is known for being one of the stronger currencies in Europe.
- The currency is managed by the Sveriges Riksbank, which is one of the world's oldest central banks, founded in 1668.
- In 2000, Sweden held a referendum about adopting the euro but chose to keep the kronor instead.
Culture
- Swedish coins come in different designs, often featuring famous Swedish figures or symbols of national pride.
- The common practice of cashless payments in Sweden has led to a significant decline in the use of physical kronor over the years.
- The kronor symbol (kr) is commonly found in shops and digital platforms, representing prices in a unique font style.
History
- Swedish banknotes have varied greatly in design, with earlier notes reflecting the art and culture of their respective times.
- The transition from various local currencies to a unified kronor aimed to simplify trade and strengthen national identity.
- During World War II, the value of the kronor was closely monitored to maintain economic stability amid global turmoil.
Comparison
- Many Scandinavian countries have their own currencies, like the Norwegian krone, which is similar in name but different in value.
- Kronor can be an interesting study in currency valuation compared to the euro and dollar, often impacted by trade relations.
- In everyday transactions, the kronor can be divided into รถre, although the รถre denomination is now largely phased out.
Origin of 'kronor'
Main points about word origin
- The term 'krona' means 'crown' in Swedish, and the currency is named to reflect Sweden's monarchy.
- In 1873, the kronor was introduced to replace the old currency called 'speciedalers', marking a shift to a modern monetary system.
- The plural form 'kronor' is used when referring to multiple units of the currency.
The word 'kronor' comes from the Swedish term 'krone', which means 'crown'. It was first introduced in Sweden in the late 19th century as part of a currency reform intended to standardize monetary systems in accordance with the gold standard. The term has its roots in various European currencies that were named after royal crowns, reflecting the historical significance of crowns as a symbol of authority and governance. The Swedish krona has undergone several changes throughout its history, both in terms of coinage and banknotes. In 1873, the krona was officially adopted as Sweden's currency, replacing the riksdaler. Since then, it has been the primary medium of exchange in Sweden, with the Bank of Sweden responsible for its issuance. Over the years, the design of the kronor banknotes and coins has evolved, featuring prominent cultural and historical figures, as well as symbols that represent Swedish heritage.