Danish krone

The Danish krone is the currency used in Denmark and the Danish dependency of Greenland. On the Faroe Islands Danish coins are used as well but the islands use bank notes with unique Faroese motifs (see: Faroese króna. Although a common misunderstanding, the Faroese króna is legally speaking not an independent currency.) The plural form is "kroner" and one krone is divided into 100 øre, singular and plural. The ISO 4217 code is DKK.

Related Topics:
Currency - Denmark - Greenland - Faroe Islands - Faroese króna - øre - ISO 4217

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The krone was introduced as legal tender in Denmark in 1873, and was a result of the Scandinavian Monetary Union, which lasted until World War I. The initial parties to the monetary union were the Scandinavian countries of Sweden and Denmark, with Norway joining two years later.

Related Topics:
1873 - Scandinavian Monetary Union - World War I - Scandinavia - Sweden - Denmark - Norway

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The name of the common currency was the "krone" in Denmark and Norway, and the "krona" in Sweden (both names meaning "crown" in English). After the dissolution of the monetary union Denmark, Norway, and Sweden all decided to keep the name of their respective and now separate currencies.

Related Topics:
Krone - Krona - English

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Denmark negotiated special "opt-outs" of the Maastricht Treaty that allowed the country to preserve the krone while the majority of the European Union adopted a common currency known as the Euro in 1999. A new referendum held in 2000 reconfirmed the population's attachment to the krone. The Liberal-Conservative government of Anders Fogh Rasmussen planned on holding another referendum on the adoption of the euro in 2004, but these plans were dropped when polls showed decreasing support of the euro. The government is still committed to Danish membership of the euro.

Related Topics:
Maastricht Treaty - European Union - Euro - 1999 - Referendum - 2000 - Liberal - Conservative - Anders Fogh Rasmussen

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The krone is closely pegged to the euro via the ERM II, the European Union's exchange rate mechanism. Before the introduction of the euro, the krone was linked to the Deutsche Mark, thus keeping the krone stable at all times.

Related Topics:
ERM II - Deutsche Mark

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