One explanation is that small currencies such as the Swedish krona tend to weaken in times of financial unrest with great uncertainty such as exchange rate developments.
Another is that the world's trust in Sweden has decreased due to the major problems with gang crime. The world's increased knowledge of the escalated gang crime has reduced the inclination of foreign companies to establish themselves in Sweden.
A third is that confidence in Sweden's coins and notes is low because Sweden's central bank replaces them too often. For example, the Swedish 100-krona note, which is roughly equivalent to $10, has changed its appearance 3 times since 1965. The last time Sweden replaced its coins and banknotes was in 2016. With each exchange, the previous coins and notes become invalid.
The value of invalid Swedish coins and notes lying in various nooks and crannies around the world should be enormous, while a US dollar is always worth a dollar. Sweden and large part of the world have a lot to learn.
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