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DANISH KRONE - DKK

Todays Date : 02/20/2018

The Danish krone, symbol kr, code DKK, is the official currency in Denmark, as well as Greenland and the Faroe Islands. The Danish krone is sometimes referred to as the Danish crown, as the word krone means “crown” in Danish. The plural form of the krone is kroner. The krone is subdivided into 100 øre. The krone is managed by the Danmarks Nationalbank in Copenhagen. 

Modern monetary currency has been seen in Denmark since as early as 1020. The Danish krone was originally an 8 mark subunit of the Danish rigsdaler. A new krone was introduced in 1875, replacing the rigsdaler at a rate of 2 kroner equal to 1 rigsdaler, a result of the Scandinavian Monetary Union of 1873, the use of which lasted until the start of World War One in 1914. All three participating countries of the Scandinavian Monetary Union, Sweden, Denmark, and Norway, reverted back to their respective currencies. The krone was pegged to the German Reichsmark from 1940 to 1945 while Denmark was under Nazi German control of World War Two. After the war and the liberation of Denmark from Nazi occupation, a peg to the pound sterling was established at a rate of 24 krone equal to 1 pound sterling.

The Danish krone is currently pegged to the euro via the European Exchange Rate mechanism, and though Denmark has been an EU member since 1973, Denmark has still resisted the adoption of the euro as its national currency. 

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Currency Quick Facts

Name: Danish krone, kroner (plural)

Symbol: Kr

Code: DKK

Decimal Unit: 100 øre

Nicknames: hund (dog) 100 note, plovmand (ploughman) 500 note, tudse (toad) or egern (squirrel) 1,000 note

Coins: 50 øre, 1, 2, 5, 10, 20-kroner

Notes: 50, 100, 200, 500, 1,000 kroner

Central Bank: Danmarks Nationalbank

Country(ies): Denmark, Faroe Islands, Greenland

Currency Characteristics

Due to the figurative meanings of the banknotes, the 100 krone note is known as a hund or dog, though it is an abbreviation of hundrede or hundred. The 500 krone note is termed as plovmand or ploughman. The 1,000 krone note is referred as tudse or toad, derived from tusinde which means thousand, as well as egem, or squirrel, since previous notes featured a squirrel design.

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