June 7, 2010

Tip #7 - Money, money, money... SEK, Euros and Credit Cards.


(EDIT: this is an older blog article... click here for updated information) Sweden is one of three EU countries (along with Denmark and the UK) that opted to keep their currency and not use the Euro. Boy, are we happy today that we made that decision! The currency in Sweden is called the Swedish crown, or the krona (SEK). Over the past year, one dollar would buy you about 6-8 crowns and one euro would buy you about 9-11 crowns.
Some people, travelling through Europe, find it a bit bothersome that Sweden does not use the euro. One good thing to know is that you really do not need to exchange a lot of money. Credit and debit cards are accepted almost everywhere in Stockholm... taxis, boats, kiosks, stores, movie theaters, restaurants, bars, etc; It is very rare that a business does not accept credit/debit cards. One can also use bank machines(ATMs), called Bankomats, to withdraw money and then you will get the bank exchange rate.
If you are looking for a place to exchange money or buy SEK, then I recommend Forex. They are found throughout the city at 17 locations, including Arlanda, the train station, NK department store and the Old Town. They have good exchange rates there and do money transfers as well.

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