EUR to SEK currency converter. Get live exchange rates for Euro Member Countries to Sweden Krona. Use XE's free calculator to convert foreign currencies and .
DEFINITION of 'SEK (Swedish Krona)'
The most traded currency pairs in the world are called the Majors. They involve the currencies euro , US dollar , Japanese yen , pound sterling , Australian dollar , Canadian dollar , and the Swiss franc. The rules for formulating standard currency pair notations result from accepted priorities attributed to each currency.
From its inception in and as stipulated by the European Central Bank , the euro has first precedence as a base currency. Therefore, all currency pairs involving it should use it as their base, listed first. Although there is no standards-setting body or ruling organization, the established priority ranking of the major currencies is:. Historically, this was established by a ranking according to the relative values of the currencies with respect to each other  , but the introduction of the euro and other market factors have broken the original price rankings.
Mexican peso has higher priority than Japanese yen. Other currencies the Minors are generally quoted against USD. Quotes against currencies other than USD are referred to as currency crosses, or simply crosses.
Sometimes the term base currency may also refer to the functional currency of a bank or company; usually their domestic currency. For example, a British bank may use GBP as a base currency for accounting, because all profits and losses are converted to sterling. The most traded pairs of currencies in the world are called the Majors.
In everyday foreign exchange market trading and news reporting, the currency pairs are often referred to by nicknames rather than their symbolic nomenclature. These are often reminiscent of national or geographic connotations. GBP is also referred to by traders as quid. The following nicknames are common: Nicknames vary between the trading centers in New York, London, and Tokyo. Currencies are traded in fixed contract sizes, specifically called lot sizes, or multiples thereof.
The standard lot size is , units. Many retail trading firms also offer 10,unit mini lot trading accounts and a few even 1,unit micro lot. The officially quoted rate is a spot price. In a trading market however, currencies are offered for sale at an offering price the ask price , and traders looking to buy a position seek to do so at their bid price , which is always lower or equal to the asking price. This price differential is known as the spread.
The spread offered to a retail customer with an account at a brokerage firm, rather than a large international forex market maker , is larger and varies between brokerages. Login and order now. Find out about travel money card, money conversion rates and different ways of sending money overseas.
You can transfer money securely at any time to over countries from Online Banking. Take the stress out of your next overseas trip. Simply order your cash online and choose your preferred branch for pick up. The exchange rates provided are applicable to foreign exchange products described on this website. The exchange rates are indicative only as at the time and date shown, are subject to market movements and therefore change continuously.
They may also vary depending on the type of the transaction involved, and may be different for transactions over a certain amount. They should not be relied upon as an accurate representation of any final pricing.
You should contact Westpac for up-to-date pricing prior to dealing. Information is current as at 1 May You should read the Westpac Global Currency Card Product Disclosure Statement before making a decision and consider whether this product is appropriate for you. This information does not take into account your personal objectives, financial situation or needs and you should consider its appropriateness having regard to these factors before deciding to acquire this product.
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BREAKING DOWN 'SEK (Swedish Krona)'
The EUR appreciated strongly during the financial crisis, but the Swedish krona has benefited from the current Euro-Zone crisis as market participants are wary of the single bloc currency's future. The pair will continue to remain somewhat volatile as the Euro-Zone faces a myriad of issues. Convert EUR to SEK with the TransferWise Currency Converter. View the monthly rate average for Euro to Swedish Krona.