Danish krone is distributed in Denmark, the Faroe Islands and Greenland. The currency code is DKK, designated kr. The name “crown” itself is translated as “crown”. One crown consists of 100 øre (øre). Currently, the krone is pegged to the euro. Today, notes in circulation are 50, 100, 200, 500 and 1000 Danish kroner. As for coins, the names are 50 era and 1, 2, 5, 10 and 20 crowns.
Origin and history
Various events in the history of the country influenced what currency in Denmark was in circulation. The oldest Danish coins are the so-called corseters or “cross-coins” minted by Harold Sinezub at the end of the 10th century. Lund was the main minting site and one of Denmark's most important cities in the Middle Ages, but coins were also issued in places like Roskilde, Odense or Viborg during this era.
Danish krone was usually based on the silver standard. Periodically, the amount of metal in the coins decreased, as a result, they did not correspond to their nominal value. This was done mainly to generate additional income for the monarch or state. As a result, the population began to lose confidence in the respective coins, and the Danish currency was redone several times, in an attempt to restore public confidence in the coins. In the end, paper money was issued.
At the end of the XVIII and XIX centuries. economic activity in the country increased, and with it increased the need for means of payment that were easier to issue than coins. Consequently, banknotes began to gain increasing popularity.
The formation of the Scandinavian currency union, which entered into force in 1873 (and with it the new currency, which was adopted two years later) and existed before the First World War, influenced which currency will continue to exist in Denmark. It was then that a new crown was introduced. Three Scandinavian countries were members of the union, and the new currency was called the “krona” in Denmark, Norway and Sweden. This word literally means “crown” in all three languages.
The Scandinavian monetary union ceased to exist in 1914 when they ceased to use the gold standard. Denmark, Sweden and Norway still decided to keep the name of their national, now divided currencies.
Denmark later returned to the gold standard in 1924, but finally ceased to follow it in 1931. Between 1940 and 1945, the Danish krone was tied to the German Reichsmark until the end of German occupation.
Economy
The country stands for liberal trade policy.
The main industries are textiles, clothing, windmills, food processing, the chemical industry, metallurgy (steel, iron, non-ferrous metals), gas, the woodworking industry, furniture manufacturing and shipbuilding.
Export products include meat, spruce, wood, fish, dairy products, potted plants, furniture, pharmaceuticals, tools and equipment. Imported products are chemicals, grain, food, raw materials, equipment and machinery.
Unemployment is 4.1%. Poverty is considered unacceptable because there is a widespread social security system in Denmark. Inflation in the country is 1.3%.
What currency is now in Denmark
After 1945, 24 kroons was equal to 1 British pound. In 1949, the kroon became part of the Bretton Woods currency system and decreased in price to the level of 6.91 kroons = 1 US dollar. In 1997, a new series of banknotes was issued.
In 200, a referendum was held in the country, and the local currency was pegged to the euro. Themed coins first appeared in 2001.
Many tourists will be interested in what currency rate in Denmark to the ruble: 10 DKK = 100.49 RUB.
Coins
Different series of colors are designed to differentiate them and determine which currency in Denmark is in circulation. For the manufacture of 50 Ore, copper and bronze are used. Coins 1 and 5 crowns are silver and consist of a copper-nickel alloy, 10 and 20 crowns are made of aluminum bronze, 50 crowns are gold. Coins of denominations of 1 and 5 crowns have notches. A coin with a denomination of 1 crown also has a hole in the center. These properties make it possible to distinguish between them.
Banknotes
In circulation are banknotes with a face value of 5 to 1000 kroons. Common is a series that was produced from 1952 to 1964. Values ​​of 5, 10, 50, 100 and 500 kroons were presented in this series. Another series was presented in 1992 in the values ​​of 50, 100, 200, 500 and 1000 kroons. This was a series featuring bridges of 50, 100, 200, 500, and 1000. In 2009 and 2011, new banknote designs were distributed.
Greenland and the Faroe Islands
Danish money circulates in Greenland like the Greenland krone. It should also be mentioned which currency in Denmark extends to the Faroe Islands: the so-called Faroe Krona, as well as the Danish coin series, are in circulation there.