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ISO 4217 | |||||
Code | DKK (numeric: 208) | ||||
Subunit | 0.01 | ||||
Unit | |||||
Unit | krone | ||||
Plural | kroner | ||||
Symbol | kr. | ||||
Denominations | |||||
Subunit | |||||
1⁄100 | øre | ||||
Plural | |||||
øre | øre (singular and plural) | ||||
Banknotes | |||||
Freq. used | 50, 100, 200, 500 kroner[1] | ||||
Rarely used | 1000 kroner (to be phased out on May 31st 2025) | ||||
Coins | 50-øre, 1, 2, 5, 10, 20 kroner | ||||
Demographics | |||||
Replaced | Danish rigsdaler | ||||
User(s) | |||||
Issuance | |||||
Central bank | Danmarks Nationalbank | ||||
Website | www | ||||
Valuation | |||||
Inflation | 0.6% (Denmark only)[needs update] | ||||
Source | August 2013[2] | ||||
EU Exchange Rate Mechanism (ERM) | |||||
Since | 13 March 1979 | ||||
1 € = | 7.46038 kr.[3] | ||||
Band | 2.25% | ||||
Special banknotes are issued for use on the Faroe Islands–see Faroese króna |
The krone (Danish: [ˈkʰʁoːnə]; plural: kroner; sign: kr.; code: DKK) is the official currency of Denmark, Greenland, and the Faroe Islands, introduced on 1 January 1875.[4] Both the ISO code "DKK" and currency sign "kr." are in common use; the former precedes the value, the latter in some contexts follows it. The currency is sometimes referred to as the Danish crown in English, since krone literally means crown. Krone coins have been minted in Denmark since the 17th century.
One krone is subdivided into 100 øre (Danish pronunciation: [ˈøːɐ]; singular and plural), the name øre is probably derived from the Latin word for gold.[5] Altogether there are eleven denominations of the krone, with the smallest being the 50 øre coin (one half of a krone). Formerly there were more øre coins, but those were discontinued due to inflation.
The krone is pegged to the euro via the ERM II, the European Union's exchange rate mechanism. Adoption of the euro is favoured by some of the major political parties; however, a 2000 referendum on joining the Eurozone was defeated with 53.2% voting to maintain the krone and 46.8% voting to join the Eurozone.[6]