According to the 1995 "accession treaty, Sweden is required to join the "eurozone and therefore must convert to the "euro once the convergence criteria are met. Notwithstanding this, on 14 September 2003, a consultative "Swedish referendum was held on the euro, in which 56% of voters were opposed to the adoption of the currency, out of an overall turnout of 82.6%. The Swedish government has argued such a course of action is possible since one of the requirements for "eurozone membership is a prior two-year membership of the "ERM II. By simply not joining the exchange rate mechanism, the Swedish government is provided a formal loophole avoiding the theoretical requirement of adopting the euro.
Some["who?] (like the Liberals) of Sweden's major parties continue to believe it would be in the national interest to join, but all parties have pledged to abide by the results of the referendum,["needs update] and none have shown any interest in raising the issue again. There was an agreement among the parties not to discuss the issue before the "2010 general election. In a poll from May 2007, 33.3% were in favour, while 53.8% were against and 13.0% were uncertain.
In February 2009, "Fredrik Reinfeldt, the "Prime Minister of Sweden stated that a new referendum on the euro issue will not be held until support is gained from the people and all the major parties. Therefore, the timing is now at the discretion of the "Social Democrats. He added, the request of "Mona Sahlin, former leader of the Social Democratic Party, for deferral of a new referendum until after the 2010 mandate period should be respected.
As of 2014[update], support for Swedish membership of the euro among the general population is low. In September 2013, support fell as low as 9%. The only party in the "Riksdag that supports Swedish entry in the euro (as of 2015) is the centrist "Liberal Party.
Banknotes and Coins per capita in circulation
Sweden is a wealthy country and in the 1970's and 1980's the value of banknotes and coins per capita was one of the highest in the world. In 1991, the largest banknote worth 10,000kr that was in circulation since 1958 was declared invalid and no longer was legal tender. For a discussion of the financial and banking crisis that hit Sweden in the early 1990s see the article "History of Sweden (1991–present) and "Swedish banking rescue.
Unlike the USA and Canada which by policy never declare issued money invalid, Sweden and most other European countries have a date when older series of banknotes or older coin designs are invalid and are no longer legal tender. From the years 2001 to 2008 banknotes and coins were circulated at a near constant level of around 12,000 krona per capita, but in 2006 a modified 1000-kronor banknote with a motion security strip was produced. Within 7 years the banknotes without the strip were declared invalid,leaving only a radically reduced number of banknotes with foil valid. The Vasa 1000-kronor banknotes without the foil strip became invalid after 31 December 2013, and the pieces with the foil strip are invalid after 30 June 2016. Also the "Swish mobile payment system was established in Sweden in 2012 and become a popular alternative to cash payments.
Although many countries are performing larger and larger share of transactions by electronic means, Sweden is unique in that it is also reducing it's cash in circulation. According to "Bank for International Settlements the last year Sweden was surpassed in cash on a per capita basis converted to US dollars by USA in 1993, the Euro Area in 2003, Australia in 2007, Canada in 2009,United Kingdom and Saudi Arabia in 2013, Korea in 2014, and Russia in 2016. In upcoming years Sweden may be surpassed by Mexico, and Turkey.
The tables show the value of the banknotes and coins per capita for participating countries on Committee on Payments and Market Infrastructures (CPMI). Local currency is convert to US dollars using end of the year rates.
|year||"Per capita||% in 1000 SEK banknotes||end of year SEK/USD||equivalent USD||Surpass Sweden|
|1988||6,459 kr||not largest bill||6.1325||$1,053|
|1989||7,118 kr||not largest bill||6.2270||$1,143|
|1990||7,174 kr||not largest bill||5.6980||$1,259|
|1991||8,828 kr||not largest bill||5.5500||$1,591|
|2003||12,161 kr||41.9%||7.1892||$1,692||Euro Area|
|2013||8,849 kr||11.4%||6.4238||$1,378||Saudia Arabia & U.K.|
With the exception of 2016, the circulation levels in the table above were reported to the "Bank for International Settlements. Possible discrepancies with these statistics and other sources may be because some sources exclude "commemorative banknotes and coins" (3.20% of total for Sweden in 2015) and other sources exclude "banknotes and coin held by banks" (2.68% of total for Sweden in 2015) as opposed "banknotes and coin in circulation outside banks".
Circulation levels of cash on a per capita basis, are reduced by 19.5% from the high in 2007 to 2012; and reduced by 41.1% from 2007 to 2015. The Riksbanken predicted that between 2012 and 2020, the amount of cash in circulation will decline by 20 to 50 percent.  The prediction may prove to be an understatement as the decline has exceeded 20 percent from 2012 to 2015. Speculation about Sweden declaring all banknotes and coins invalid at some future date is widespread in the media with Björn Ulvaeus as a celebrity advocate of a cashless Sweden which he believes will result in a safer society because simple robbery will involve stealing goods that must be fenced.
The Riksbank deposit rate (the deposit rate is the rate of interest banks receive when they deposit funds in their accounts at the Riksbank overnight and is normally 0.75 percentage points lower than the repo rate ) dropped to zero percent on December 18, 2013 only two weeks before the 1000 - kronor Vasa banknotes without foil became invalid. The deposit rate went negative on July 9, 2014 and has remained negative as of 22 February 2017. At that date, the Executive Board of the Riksbank has stated that there is still a greater probability that the rate will be cut than that it will be raised in the near term. The suspicion became widespread that the huge reduction in circulation levels of the highest denomination banknote is related to monetary policy. Traditional economic theory holds that people will convert bank accounts into cash without the inducement of earning interest. Cecilia Skingsley has stated that "This is a development steered by market forces and not by the authorities. The Riksbank will continue issuing banknotes and coins as long as there is demand for them in society. It is our statutory duty and we will of course live up to it."
The value of the payments between households, companies and authorities in Sweden amounts to about 20,000-kronor annual per capita in cash. In shops, almost one in seven payments is made in cash. More than half of the adult population has the Swish payment app. Annual withdrawals from Swedish ATMs in 2015 amount to 15,300-kronor per capita. According to Skingsley, "what some consumers, smaller companies and local clubs often see as a problem, is not so much getting hold of cash, but being able to deposit it in a bank account."
|"Per Capita in USD||Country||Billions of USD||Percent of "GDP|
|$6,550||Hong Kong SAR||$47.98||15.51%|
The e-krona is a proposed electronic currency to be issued directly by the Riksbank. It is different than the electronic transfers using commercial bank money as central bank money has no nominal credit risk, as it stands for a claim on the central bank, which cannot go bankrupt. 
The declining use of cash in Sweden is going to be reinforced cyclically. As more and more businesses find they can have a functional business without accepting cash, the number of businesses refusing to accept cash will increase. That will re-enforce the need for more and more citizens to get the "Swish (payment) app which is already used by half the population. Cash machines, which are controlled by a Swedish bank consortium, are being dismantled by the hundreds, especially in rural areas.
The Riksbank has not taken a decision on issuing e-krona. First, the Riksbank needs to investigate a number of technical, legal and practical issues. "The declining use of cash in Sweden means that this is more of a burning issue for us than for most other central banks. Although it may appear simple at first glance to issue e-krona, this is something entirely new for a central bank and there is no precedent to follow". If the Riksbank chooses to issue e-krona, it is not to replace cash, but to act as complement to it. "The Riksbank will continue issuing banknotes and coins as long as there is demand for them in society. It is our statutory duty and we will of course continue to live up to it," concluded Deputy Governor Cecilia Skingsley.
Current SEK exchange rates
|From Google Finance:||AUD CAD CHF EUR GBP HKD JPY USD DKK INR NOK|
|From Yahoo! Finance:||AUD CAD CHF EUR GBP HKD JPY USD DKK INR NOK|
|From XE:||AUD CAD CHF EUR GBP HKD JPY USD DKK INR NOK|
|From OANDA:||AUD CAD CHF EUR GBP HKD JPY USD DKK INR NOK|
|From fxtop.com:||AUD CAD CHF EUR GBP HKD JPY USD DKK INR NOK|
- "Monetary policy of Sweden
- "Swedish National Debt Office
- "Tables of historical exchange rates to the United States dollar
- "Scandinavian Monetary Union
- "Swedish rounding
- "Economy of Sweden
- "Sweden and the euro
- Swedish Riksbank, History of the inflation goal, speech by Deputy Governor Svante Öberg, 21 March 2006. Hosted Swedish Riksbank website. Retrieved December 6, 2007.
- "Sveriges Riksbank/Riksbanken – Inflationen just nu". Riksbank.se. 2015-10-13. Retrieved 2015-11-03.
- Sveriges Riksbank. Valid coins." Accessed 25 Feb 2011.
- "New coins". Sveriges Riksbank. Retrieved 9 April 2015.
- "The new coins". Sveriges Riksbank. Sveriges Riksbank. Archived from the original on 30 September 2012. Retrieved 12 September 2012.
- Kerpner, Joachim (11 September 2012). "Nya mynten hyllning till Ted Gärdestad" [New coins a tribute to Ted Gärdestad]. www.aftonbladet.se. "Aftonbladet. Retrieved 12 December 2015.
- Kommuner slopar myntautomater – PRO kritisk (Swedish)
- Sveriges Riksbank/Riksbanken – 1-krona
- Sveriges Riksbank/Riksbanken – 5-krona
- Sveriges Riksbank/Riksbanken – 10-krona
- 2-krona, Swedish Riksbank website. Retrieved December 6, 2007.
- Norris, Don. "Coin Types from Sweden". Worldcoingallery.com. Retrieved 2010-12-28.
- Redemption of coins, Swedish Riksbank website. Retrieved December 6, 2007.
- The Local – Riksbank urges Sweden to ditch 50 öre coin English Language Article noting the removal of the öre.
- Stockholm TT. "50-öringen slopas i oktober". SvD.se. Retrieved 25 January 2015.
- "Sveriges Riksbank/Riksbanken — New banknotes". Riksbank.se. Retrieved 2016-07-19.
- "Sveriges Riksbank/Riksbanken — Valid banknotes". Riksbank.se. Retrieved 2016-07-19.
- Sveriges Riksbank. "Colour, material and format". Sveriges Riksbank. Retrieved 25 June 2013.
- "Sveriges Riksbank/Riksbanken — Invalid banknotes". Riksbank.se. 2016-07-01. Retrieved 2016-07-19.
- Riksbanken. "10,000-kronor banknote". Retrieved 20 February 2017.
- Riksbanken. "SRiksbank to introduce new, more secure 50 and 1,000-krona banknotes". Retrieved 25 February 2017.
- Riksbanken. "Artistic starting point". Retrieved 25 January 2015.
- The "Cultural Journey" banknote series Sveriges Riksbank (www.riksbank.se). Retrieved on 2015-02-16.
- "Sweden new 100- and 500-krona notes confirmed introduced 03.10.2016".
- Andersson, Elisabet (20 January 2015). "Ernman kritiserar ny sedel". Svenska Dagbladet. Retrieved 20 January 2015.
- Wiman, Björn (22 January 2015). "Björn Wiman: Birgit Nilssons skamlösa judekoppling visar antisemitismen". Dagens Nyheter. Retrieved 22 January 2015.
- Öberg: Sweden – a low inflation economy, speech by Deputy Governor Svante Öberg, 21 March 2006. Hosted Swedish Riksbank website. Retrieved December 6, 2007.
- "2003 folkomröstning om Euron", retrieved 2011-06-16
- "Expert: Dags att slopa kronan". 2009-02-27. Retrieved 2014-06-12.
- "Support for euro hits all-time low in Sweden". EurActiv. EurActiv. Retrieved 11 May 2014.
- "Eurosamarbetet". Liberalerna. Retrieved 29 Nov 2015.
- Krause, Chester L.; Clifford Mishler (1991). "Standard Catalog of World Coins: 1801–1991 (18th ed.). Krause Publications. "ISBN "0873411501.
- Pick, Albert (1994). "Standard Catalog of World Paper Money: General Issues. Colin R. Bruce II and Neil Shafer (editors) (7th ed.). Krause Publications. "ISBN "0-87341-207-9.