DKK - Danish Krone (kr)

The Danish krone is the official currency of Denmark, Greenland, and the Faroe Islands. The code for the Danish krone is DKK. The sign for the currency is the abbreviation ‘kr’, which comes after the numerical value (e.g. 5 kr). Krone is the Danish word for crown, so the currency is sometimes referred to as the Danish crown. The plural of krone is kroner.

The official currency for the Kingdom of Denmark is the Danish Krone (DKK). The Krone is currently pegged to the Euro. The Krone is subdivided into 100 ore. The symbol for the Krone is kr. Another the name for the Krone is the Danish Crown.

The Danish Krone is the currency in Denmark (DK, DNK), Faeroe Islands, and Greenland (GL, GRL). The Danish Krone is also known as Krones. The symbol for DKK can be written Dkr. The Danish Krone is divided into 100 ore. The exchange rate for the Danish Krone was last updated on Today from The International Monetary Fund. The DKK conversion factor has 6 significant digits.

Economy

  • The country advocates a liberal trade policy.
  • The main industries are textiles, clothing, windmills, food processing, chemicals, steel, iron, gas, furniture, wood, shipbuilding, and non-ferrous metals.
  • Export products are meat, Christmas trees, wood, fish, diary products, potted plants, furniture, pharmaceuticals, instruments, and machinery.
  • Import products are chemicals, grains, foodstuffs, raw materials, equipment, and machinery.
  • Unemployment is 4.1%
  • Poverty is rated as not applicable, because Denmark runs a broad-reaching welfare system.
  • Inflation for the country is 1.3%.

History

  • The first krone was introduced in the 1800s.
  • In 1873 the Danish rigsdaler was replaced by a new krone.
  • The krone formed part of the Monetary Union until World War I. In 1914 the Union was abandoned and the gold standard era ended.
  • In 1924 Denmark joined the gold standard again, but abandoned it in 1931.
  • From 1940 to 1945 the krone was joined to the German reichmark. After 1945, 24 krone was equal to 1 British pound.
  • In 1949 the krone became part of the Brentwood system and decreased in value to 6.91 krone = 1 USD.
  • In 1997 a new series of banknotes was released.
  • Thematic coins were distributed for the first time in 2001.
  • In 2009 and 2011 new banknote designs were distributed.

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