Bank of Sweden

Bank of SwedenBank of Sweden (Sveriges Riksbank) is the first and the oldest central bank in the world. It was established in 1668 as a national bank of the country and called Sveriges Rikes Standers Bank (Bank of Public Estates of Sweden).

At the end of the 17th century, it opened the first branches in Gothenburg, Örebro and Falun. Initially, the bank did not have the exclusive right to issue banknotes and acted primary as a commercial bank.

In 1866, as a result of the reform of the country’s parliament, government estates were abolished and the bank’s name was changed to Sveriges Riksbank. In 1897, the Riksbank became a Central bank, with the publication of the Law on the State Bank and the appointment of a general manager of the bank.

In 1968, the bank is celebrated its 300th anniversary and made first donation to the Nobel Foundation. Since then, the bank transfers to Alfred Nobel Prize in economics become annual.

According to the Constitution, the Bank of Sweden subordinate to the Parliament and is responsible for conducting monetary policy of the country.

Members of the General Council of the Riksbank are representatives of the Swedish Parliament; from among its members they elect a Chairman and his deputy.

National currency (ISO 4217) – Swedish Krona (SEK)

103 37 Stockholm 11 Brunkebergstorg

Tel. / Fax: 08 21 05 31

Year of creation: 1668

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