New notes and coins to be introduced in Sweden as classics vanish.

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In a move to modernise the entire Swedish banknote and coin series the Riksbank has decided to suggests the introduction of a 2-kronor coin and a 200-kronor banknote.

At the same time the central bank will replace the 20-kronor note with a 20-kronor coin.

”When we supplement the present banknote and coin series with a 2-kronor coin and a 200-kronor banknote, there will not need to be as many banknotes and coins in circulation as there are now”, First Deputy Governor Svante Öberg said in a statement.

“The coins will also be smaller and lighter. This will make cash management easier and reduce the impact on the environment”.

The 20-kronor banknote is nicknamed “Selman” as the famous Swedish author Selma Lagerlöf is printed on the note. She was the first female writer to win the Nobel Prize in Literature.

The final decision on denominations of the new coins and notes will be made by the Riksdag.