Scandinavian Monetary Union


Scandinavian Monetary Union

A currency union between Sweden and Denmark established in 1873. Norway, which was politically united to Sweden but set its own currency policy, joined two years later. Each country continued to issue its own currency, but each was pegged to gold at the same value. This led to each currency being accepted in the other jurisdictions. The Union was dissolved in 1914 with the onset of World War I.