Buy, Sell Or Transfer Danish Krone (DKK) At The Best Rates In India

The Danish Krone is the currency of Denmark, Greenland and the Faroe Islands,introduced on 1 January 1875. One krone is subdivided into 100 re, the name re possibly deriving from Latin aureus meaning 'gold coin'. The currency code for Danish Krone is DKK, and the currency symbol is kr. The most popular Danish Krone exchange rate is the DKK to EUR rate. Danmarks Nationalbank issues the Danish Krone.

Currency Facts

History of Danish Krone

In 1625 with the introduction of the Danish Rigsdaler, currency in Denmark first came into existence. The Rigsdaler had three subunits: the mark, skilling, and pfenning. The use of Rigsdaler despite its complicated structure like lack of decimalization continued until the creation of the Scandinavian Monetary Union in 1873, The Union made it mandatory for Denmark, Norway, and Sweden to fix their respective currencies against gold, at par with one another, to create monetary stability.

In 1875, the Danish Krone was introduced as Denmark's official currency. The Scandinavian Monetary Union dissolved in 1914, when the gold standard was abandoned globally. Denmark kept the Krone currency and attempted to fix it to the gold standard again in 1924, but permanently left it in 1931. The Krone underwent another change when it was pegged to the German Reichsmark during the German occupation from 1940-1945. It was re-pegged to the British Pound and US Dollar following the end of the war.

Danish Krone and The Euro

Denmark despite being part of the European Union does not use Euro as its currency like other members. Denmark was originally going to adopt the euro. However, when the euro was launched in 1999, Denmark opted out through the Edinburgh Agreement. In 2000, a referendum was held to decide whether or not the euro would be introduced. 53.2% of the population was opposed to adopting the euro.