Swedish Krona (SEK).

The Swedish Krona is the official currency of Sweden. The name "krona" means "crown" in Swedish, and it has been used as the country's currency since 1873. One krona is divided into 100 "ore" and is often denoted with the symbol "kr." The Swedish Krona is one of the world's most traded currencies, and it is also a popular choice for currency speculation.

Is SEK pegged to USD?

The Swedish Krona (SEK) is not pegged to the US Dollar (USD), but the two currencies do have a close relationship. The SEK is considered a "safe haven" currency, meaning that it is often bought by investors during times of economic uncertainty. This demand for the SEK helps to keep its value relatively stable against the USD. What currency does Sweden use? Sweden uses the Swedish Krona (SEK) as its currency.

Why is Swedish currency weak? The Swedish currency, the krona, is currently weak against many other major currencies. There are a number of reasons for this.

One reason is that the Swedish economy is currently not doing as well as many other major economies. GDP growth in Sweden has been relatively sluggish in recent years, and the country's central bank, the Riksbank, has been slow to raise interest rates. This has made the krona less attractive to investors.

Another reason for the weakness of the krona is the high level of government debt in Sweden. The Swedish government has been running large budget deficits in recent years, and this has led to a build-up of government debt. This has made investors less willing to hold krona-denominated assets.

Finally, the Riksbank has been engaged in quantitative easing (QE) since February 2015. This has further weakened the krona, as QE tends to lead to a depreciation of a country's currency.

Why is JPY a safe haven? JPY is a safe haven currency for a few reasons:

1. The Japanese economy is very export-dependent, so when global economic conditions are uncertain, demand for Japanese exports tends to fall, and the JPY weakens as a result.

2. The Japanese central bank (the Bank of Japan) is one of the most aggressive central banks in the world, and has a history of intervening in the currency markets to weaken the JPY.

3. The Japanese government has a large amount of debt, and when investors are risk-averse they tend to buy Japanese government bonds (JGBs), pushing up prices and pushing down yields. This increases demand for JPY.

4. The Japanese stock market is also a safe haven for investors, as it is one of the most stable in the world. When global markets are volatile, investors tend to buy Japanese stocks, which drives up demand for JPY. Is Sweden a developed country? Yes, Sweden is a developed country. As of 2019, its GDP per capita was $59,795, making it the 18th-highest in the world. Additionally, its HDI score of 0.944 was the 5th-highest in the world.