For example, converting €1,000 to kroner will mean the person gets kr7,4725 (7.4725 x 1,000). When converting cash (digital or physical) banks or currency exchange houses will typically charge a fee for the conversion. Therefore, the actual amount of currency recieved could be reduced by 3%, for example. Denmark first applied to be a member of the European Union’s (EU) predecessor community, the European Economic Community, in 1961 but did not join until 1973.

The production and use of coins in Denmark go back many centuries. Organized coin minting was going on in Denmark as far back as the 10th century. The earliest official Danish coins were based on the Carolingian silver standard, a basis for silver currency that was created in France during the time of Charlemagne to replace the gold coinage of the Roman Empire.

Xe Currency Data API

These currency charts use live mid-market rates, are easy to use, and are very reliable. The introduction of the krone came at a time when handling transactions with coins was becoming increasingly cumbersome. Therefore, a transition to greater use of printed banknotes accompanied the implementation of the new currency. Unfortunately, Danish kings followed the practices of many other rulers, enriching themselves by periodically debasing their currency by reducing the actual amount of silver present in minted coins. It led to multiple remonetizations, creating new currencies to try to restore public trust in the nation’s money.

Transfers between the countries count as international with international fees, outside EU rules.

These are the average exchange rates of these two currencies for the last 30 and 90 days. Danish coins, in order to make them more easily managed by visually impaired people, are distinguished in color, diameter, weight, and the texture of the coin rims. The symbol ordinarily follows, rather than precedes, the stated monetary amount – thus, 50 kroner is expressed as 50kr rather than kr50.

Current DKK exchange rates

Greenland adopted the Act on Banknotes in Greenland in 2006 with a view to introducing separate Greenlandic banknotes. In the autumn of 2010, a new Greenlandic government indicated that it did not wish to introduce separate Greenlandic banknotes and Danmarks coinspot reviews Nationalbank ceased the project to develop a Greenlandic series. The central bank of Denmark – the Dansmark Nationalbank – is the monetary authority that oversees the issuance of the country’s currency and exercises control over foreign exchange rates.

1. The 50 øre and 10 krone coins have smooth rims, while the rims of the 1 and 5 krone coins are milled.
2. Former Danish Prime Minister Anders Fogh Rasmussen has characterized this status as being a part of the eurozone without having a seat at the decision-making table.
3. Therefore, it will experience greater volatility with currencies other than the euro.
4. You can send a variety of international currencies to multiple countries reliably, quickly, and safely, and at a rate cheaper than most banks.

Use of these various characteristics makes it easy for the blind and sight-impaired to tell the coins apart. The U.S. dollar is the currency most used in international transactions. Several countries use the U.S. dollar as their official currency, and many others allow it to be used in a de facto capacity. Our currency rankings show that the most popular US Dollar exchange rate is the USD to USD rate.

Convert DKK to Other Currency Units

The currency code for Kroner is DKK, and the currency symbol is kr. Below, you’ll find Danish Krone rates and a currency converter. Within each sequence the diameter and weight of the coins increase with their value. The 50 øre and 10 krone coins have smooth rims, while the rims of the 1 and 5 krone coins are milled. The rims of the 2 and 20 krone coins have interrupted milling.

However, in 2016, the bank made the decision to outsource the actual printing of Danish krone banknotes. The decision was, in part, spurred by decreasing demand for banknotes as fewer and fewer transactions involve physical cash transfers. In recent decades, the Danish Kingdom okcoin review considered joining the eurozone and adopting the euro as its official currency. However, the most recent public referendum, in 2000, rejected that notion by a small margin (53% to 47%). DKK is the currency code in the foreign exchange (forex) market for the Danish krone.

The krone is the official currency of Denmark as well as the provinces of Greenland and the Faroe Islands. The krone subdivides into 100  øre and is currently pegged to vantage fx the euro. The local currency is denoted as “kr”, as in kr100, meaning 100 kroner (plural). Live tracking and notifications + flexible delivery and payment options.

These are the highest points the exchange rate has been at in the last 30 and 90-day periods. According to World Bank data, Denmark experienced a 0.7% annual inflation rate and had gross domestic product (GDP) growth of a 2.85% in 2019. Denmark exports more than it imports, with major exports including machinery, chemicals, and pharmaceuticals. Despite Danish attachment to their currency, independent analyses have argued that Denmark is a de facto user of the euro since the National Bank of Denmark tracks European Central Bank policy so closely. Former Danish Prime Minister Anders Fogh Rasmussen has characterized this status as being a part of the eurozone without having a seat at the decision-making table.

The silver-based monetary system of pennies, shillings, and pounds eventually served as the basis for Great Britain’s British pound sterling. The first series, 20-krone coins featuring towers in Denmark, ran between 2002 and 2007 and spawned ten different motifs. Upon selecting the towers, importance had been attached not only to display aesthetic towers, but also towers with different form, functions and from different regions of Denmark, the Faroe Islands and Greenland.

But skepticism of the euro has lived on in Denmark, even after it joined the EU. On the 28th of September 2000, 53.2% Danish voters deciding again not to adopt the euro. DKK is currently pegged to the euro at 7.46 DKK per EUR and is allowed to fluctuate in a small band of +/- 2.25% against it. Between 2009 and 2019 the EUR/DKK rate has largely stayed between 7.45 and 7.47, well within the 2.25% threshold it is allowed to move. Upgrading to a paid membership gives you access to our extensive collection of plug-and-play Templates designed to power your performance—as well as CFI’s full course catalog and accredited Certification Programs.