On 13 March 2008 the Executive Board of the Riksbank decided to review the banknote and coin series. The basic features of Swedish banknotes and coins have remained unchanged during a relatively long period. The nature of the assignment is to review denominations, formats and security features.
The project was initiated at the beginning of 2008 and is expected to continue for 2-3 years. The work will be divided into stages and decisions on various sub-issues will gradually be made. A preliminary report containing facts on banknotes and coins was presented in September 2008.
A second report completed in November 2008 proposes that the 50 öre coin should be ablolished on 30 September 2010. The Riksdag (the Swedish parliament) decided in accordance with this proposal in March 2009.