Danish Krone

Danish Kroner (DKK) is the official currency of Denmark, a country located in Scandinavia. The Kroner is also the official currency of the Faroe Islands and Greenland, two autonomous territories of Denmark. One Kroner is divided into 100 øre, and coins come in denominations of 1, 2, 5, 10, 20 and 50 øre, as well as 1, 2 and 5 Kroner. Banknotes come in denominations of 10, 20, 50, 100, 200 and 500 Kroner. The Kroner is pegged to the Euro, and Denmark is a member of the European Union, though it has not adopted the Euro as its currency. The Kroner has a long history, dating back to the Middle Ages. The name “krone” means “crown” in Danish, and it is believed to have originated from the golden crowns worn by Danish kings. The first official Danish currency was introduced in 1625, and it was based on the German Reichstaler. In 1873, Denmark joined the Scandinavian Monetary Union, which resulted in the introduction of the Danish Kroner. The Union dissolved in 1914, but the Kroner remained the currency of Denmark. During World War II, Denmark was occupied by Nazi Germany, and the Reichskronen became the official currency. In 1948, following the end of the war, the Kroner was reintroduced and pegged to the US Dollar. In 1973, Denmark joined the European Economic Community (EEC), which later became the European Union (EU). In 1999, the Euro was introduced, but Denmark chose not to replace the Kroner with the new currency. The Kroner is a stable currency, and it has remained pegged to the Euro since its introduction. Denmark has a strong economy, and the Kroner is a widely used currency. It is accepted in many countries, and it is also used in international trade.