Sweden's New Banknotes

Modify above table to include Danish Crown as well as Swedish an Norwegian Crown. The 20kr denomination is a banknote in Sweden, while it is a coin in Norway and Denmark.

Values in the table are millions of pieces, and they are not adjusted for different exchange rates or population of the countries.

Denom	SEKnew	SEKold	NOK	DKK
20 kr	34.1	54.5	88.0	125.6 
50 kr	12.1	10.1	21.9	24.7
100 kr	-----	66.1	21.5	46.6
200 kr	11.6	-----	30.3	30.4
500 kr	-----	87.8	36.7	32.0
1000 kr	1.7	1.9	17.9	35.6

Normally you need more coins to supply a denomination than banknotes. Coins tend to get lost or are held in piggy banks.

Sweden seems to make up for it's lack of 1000kr banknotes by having more 500kr banknotes, but remember that until recently it had no 200kr banknote. Also the population is much larger than Norway or Denmark.

Denmark has many more 1000kr banknotes than Norway. Danes may be more inclined to hold value in currency, but also the banknotes are probably held by Germans as a hedge against the Euro. Currency speculators are attempting to force the Danish government to abandon the Exchange Rate Mechanism so that the Danish Crown increases in value dramatically relative to the Euro.

The April stats were just published.
The value of the soon to be invalid banknotes was:
SEK 9.0 billion (114.9 million banknotes) Dec 2014
SEK 6.6 billion (100.8 million banknotes) Oct 2015
SEK 5.9 billion (92.5 million banknotes) Nov 2015
SEK 5.2 billion (84.4 million banknotes) Dec 2015
SEK 4.6 billion (77.3 million banknotes) Jan 2016
SEK 4.1 billion (71.6 million banknotes) Feb 2016
SEK 3.5 billion (66.5 million banknotes) Mar 2016
SEK 3.1 billion (61.3 million banknotes) Apr 2016
SEK x.x billion (xx.x million banknotes) May 2016
SEK x.x billion (xx.x million banknotes) Jun 2016

Still looking like SEK 2 billion and about 50 million notes that are lost or being stored as collectibles. Perhaps a bunch will be turned in at banks through August.

The 500 SEK banknotes in circulation is down from 114.4 million at end of 2014 to 86.5 million at end of April 2016. How many of the new ones of this denomination will determine how "cashless" Sweden becomes. I am predicting no more than 30 million.

A lot depends on BREXIT. From what I read if BREXIT happens, Sweden may follow. The SEK and NOK are within 1%, so if Sweden leaves they would be free to peg the SEK and NOK at parity. Such a peg would help protect both currencies from marauding speculators.

Talking about NOK. I seriously don't like the side that Snøhetta designed. It's like they don't even try anymore. Better if they just stuck to designing beautiful architecture.

Anyway, pegging the NOK to the SEK wouldn't protect any of the currencies. You're still talking about a combined GDP that's about the same as The Netherlands. The Netherlands used to have its Gulden more and more pegged to the D-Mark since about 1990 as it was too vulnerable otherwise. It's no different with the Scandi's.

Well if BREXIT happens, then Sweden may follow. A Northern alliance currency of Sweden, Norway, UK and Canada is some possibility. Possibly even Iceland.

The odd conversions may be eliminated if it is a purely electronic currency that is a weighted percentage of the national currencies.
50GBP=610 SEK

I don't see the need to do another special printing of a new banknotes and coins like the Euro.

A Northern alliance currency could easily have a GDP greater than Japan.

As I understand it old banknotes can still be turned in after August 2016. But only at Riksbank, not at commerical banks. So, the old banknotes still keep their ''face value.''

With Norway's currency falling from 26% higher than Sweden's currency to almost parity in the last few months, I wonder if they will fix them at parity. Sweden is about 70 miles from Oslo, so the difference in exchange rate means money leaves the country in looking for better prices.

I suggest you come and live in Sweden or Norway for a while to get a better understanding of what we're doing here.

The Norwegian Krone only went down because oil prices dropped and Norway is experiencing an economic depression now. But it didn't go down 26%, less than 10% at most. There will not be a peg between the Swedish Krona and the Norwegian Kroner. There are many cities closer to the Swedish border than Oslo, it has nothing to do with anything. In fact, most of Norway is slimmer than 70 miles... As soon as oil prices go up again and the Norwegian economy recovers, the Norwegian Krone will go up again. It's always been like that. Sweden just has a different type of economy that's much less dependent on one single industry. It's just that the Norwegian Kroner isn't such a secure bay anymore with uncertainty on the oil market, that's all. Oh, and don't forget that there's already a political pact between the Scandinavian countries concerning economic cooperation and open borders.

A lot of Norwegian Kroner already leave the country each year, especially to Sweden, due to a principle we call 'Harry shopping', which means 'weirdo shopping'. 'Harry' means 'weird' in Norwegian. Due to prices being lower and quality being better in Sweden, which has an open market unlike Norway, Sweden has built a lot of huge malls just across the border with Norway. Every days there are queues of Norwegians willing to do grocery shopping and shopping for everything else (alcohol, anyone?) just across the border. Total spending is billions of NOK per year. But Norway will not open its own internal market, as there's a very powerful farmer's political party, which seeks to protect the internal market by banning everyone else: only shortages in supply and stuff Norway isn't able to produce is imported. The result is inferior products made by companies with a monopoly in their market which are sold for premium prices and a lot of people crossing the border to do their shopping.

A Swexit is bare nonsense. The only two countries where any uproar about leaving the EU existed were France and The Netherlands, both via two populist politicians with a huge mouth (Marine le Pen and Geert Wilders). The Dutch Parliament held a vote and just 14 MPs actually voted in favor of having a referendum concerning a Nexit, which is less than 10% of the members of Parliament and, not unexpected, all (ex)members of the political party of aforementioned Geert Wilders. It's not an issue at all. There will not be a Nexit or Frexit in the coming years: everyone will first see what happens to the UK and, honestly, things don't look so good there right now.

As Redlock stated, there will be a grace period in which old bank notes will be taken in by the national bank (Riksbanken). Usually here in Europe such a period is sufficient for everyone. The same will be the case when the new Swedish coins will be released later this year. The Scandinavian principles are based on being humane, so you can expect a good grace period.

A monetary union between Sweden, Norway, Iceland, Canada and the UK is not something that's likely to happen. Where did you even find rumors? In fact, it's quite unlikely that the UK will keep existing as it does today. All the aforementioned countries refused to trade their own currencies for the Euro or to join the EMU for many different reasons.

It's true about the $20 bank note: every time I visit the US and take out cash, I get $20 notes. I haven't had a single occasion where I got $50 notes, not in large cities like New York, not in 'smaller' towns like Raleigh (NC). West coast or east coast doesn't seem to have any impact either. It's cool with those $5000 and $10.000 notes. I haven't seen one in my life and it seems like I have to travel to Vegas to actually do so. Oh well...