Information about currency: Danish Krone

Danish Krone (1875 - present)
Currency NameDanish Krone
System1 Krone = 100 øre
ISO CodeDKK
Description

The krone (plural: kroner; sign: kr.; code: DKK) is the official currency of Denmark, Greenland and the Faroe Islands, introduced on 1 January 1875. 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. Historically, krone coins have been minted in Denmark since the 17th century.

Until the late 18th century, the krone was a denomination equal to 8 mark, a subunit of the Danish rigsdaler. A new krone was introduced as the currency of Denmark in January 1875. It replaced the rigsdaler at a rate of 2 kroner = 1 rigsdaler. This placed the krone on the gold standard at a rate of 2480 kroner = 1 kilogram fine gold.

The introduction of the new krone was a result of the Scandinavian Monetary Union, which came into effect in 1873 (with the coins being adopted two years later) and lasted until World War I. The parties to the union were the three Scandinavian countries, where the name was krone in Denmark and Norway and krona in Sweden, a word which in all three languages literally means crown. The three currencies were on the gold standard, with the krone/krona defined as 1⁄2480 of a kilogram of pure gold.

The Scandinavian Monetary Union came to an end in 1914 when the gold standard was abandoned. Denmark, Sweden and Norway all decided to keep the names of their respective and now separate currencies.

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Danish Krone: Details
Issued ByDenmark
From1875
To
Danish Krone: Users
CountryPeriodFromTo
Flag of Denmark Denmark Danish Krone 1875
Flag of Faroe Islands Faroe Islands Danish Krone 1875
Flag of Greenland Greenland Danish Krone 1875
Danish Krone: Related Currencies
CountryCurrencyFromTo
Flag of Greenland Greenland Greenlandic Krone 1813 1874
Flag of Faroe Islands Faroe Islands Faroese Króna 1940