The currency of Sweden is the Swedish Krona, abbreviated as SEK. The term "krona" means crown in Swedish, and the currency has been in use since 1873. It is further subdivided into öre, although the öre has been phased out in everyday transactions. The Krona is known for its stability and is commonly used in transactions both domestically and internationally, contributing to Sweden's robust economy. Sweden has a strong banking system and offers various financial services, which further supports the use of the Krona as a reliable currency in Europe.