This article is about the Swedish unit of currency. See below for a list of similarly named currencies of other countries. Krona is also the name of a DC Comics alien villain.
The Krona is the currency used in Sweden. The plural form is kronor and one krona is divided into 100 öre, singular and plural. The ISO 4217 code is SEK. Abbreviated "kr".
The introduction of the krona, which replaced the riksdaler as the country's legal tender, was a result of the Scandinavian Monetary Union, which came into effect in 1873 and lasted until the First World War. The parties to the union were the Scandinavian countries, where the name was krona in Sweden and krone in Denmark and Norway, which in English literally means crown. After dissolution of the monetary union Sweden, Denmark and Norway all decided to keep the name of their respective and now separate currencies.
By tradition the one-krona coins carry the effigy of current monarch and one of the Coats of Arms of Sweden, or a crown, on the reverse side. The royal motto of the monarch is also inscribed on the coin.
The exchange rate of the Swedish krona against other currencies has historically been dependent on the monetary policy pursued by Sweden at the time. Since November 1992 a managed float regime has been upheld. On January 23, 2005, the exchange rate was 6.94183 against the United States dollar, 9.05438 against the euro and 13.0355 against the British pound.
Ericsson said net income rose to 4.25 billion kronor, or 2.15 kronor a share, from 905 million kronor, or 0.49 kronor a share, in the year-earlier period.
Consensus estimates among analysts were for 3.018 billion kronor in pretax earnings.
Ericsson said it expects pretax profit to double this quarter from the 2.96 billion kronor reported in the year-earlier second quarter, and for sales to increase more than 25%; the company's previous sales forecast called for 20% growth.
The maximum pension is 83,709 kronor a year, provided the insured had 40 years of residence in Sweden (including assumed years of residence between the age at the time of death and age 65) and the surviving spouse does not receive an income-related pension.
Surviving child's allowance: 15,720 kronor a year (31,440 kronor for a full orphan) is paid to a surviving child up to age 18 (age 20 if a student) who is not receiving an orphan's pension.
The maximum benefit is 730 kronor a day for the first 100 days of a benefit period; thereafter, 680 kronor a day.
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