Danish Krone

Overview

Economy

• Denmark is a member of EU, NATO, OECD, Nordic Council, Council of Europe.
• Main industries include: Wind turbines, Pharmaceuticals, Medical equipment, Shipbuilding, Iron, Steel, Nonferrous metals, Chemicals, Food processing, Machinery, Transportation equipment.
• Denmark is part of the World Trade Organization.
• Imports are machinery, equipment, raw materials, semimanufactures, chemicals, grain, foodstuffs, consumer goods.
• Major exports include wind turbines, pharmaceuticals, machinery, instruments, meat and meat products, dairy products, fish.
• GDP: $406.3 billion (2023 est.).
• GDP per capita: $69,273 (2023 est.).
• Unemployment rate: 5.1% (2023 est.).
• Inflation rate: 3.4% (2023 est.).
• Main trading partners: Germany, Sweden, Netherlands, China, Norway, United States.
• Trade agreements: EU Single Market, Various bilateral agreements.

History

• Previous currencies used: Danish rigsdaler, Various medieval currencies.
• The krone was introduced in 1873 as part of the Scandinavian Monetary Union with Sweden and Norway. It has been Denmark's currency since then with various pegging arrangements.
• 1873: Krone introduced in Scandinavian Monetary Union
• 1914: End of Scandinavian Monetary Union due to WWI
• 1944: Bretton Woods participation
• 1979: Joined European Monetary System
• 1999: ERM II participation with EUR peg
• 2000: Danish referendum rejected euro adoption
• Exchange rate peg: EUR (1999-present) through ERM II at ±2.25%.
• Exchange rate peg: EMS (1979-1999).
• Exchange rate peg: Various historical pegs.
• Currently pegged to EUR at 7.46038 DKK = 1 EUR (±2.25%).

General Information

• ISO 4217 Code: DKK
• Symbols: DKK/kr
• Currency Subunits: 100 øre
• Central Bank: Danmarks Nationalbank
• Monetary Policy: Exchange rate targeting to maintain EUR peg through ERM II. Focus on price stability and supporting eurozone convergence while maintaining Danish sovereignty.
• Bills: 50 DKK, 100 DKK, 200 DKK, 500 DKK, 1000 DKK
• Coins: 50 øre, 1 krone, 2 kroner, 5 kroner, 10 kroner, 20 kroner
• USD Exchange Rate: Variable (approximately 6.9 DKK per USD)
• Pegged To: EUR at 7.46038 DKK = 1 EUR (±2.25%)
• Capital: Copenhagen
• Population: 5,910,577 (2023 est.)
• Area: 43,094 km²
• Languages: Danish (official), Faroese, Greenlandic, German
• Time Zones: UTC+1 (CET), UTC+2 (CEST in summer)
• Government Type: Parliamentary constitutional monarchy
• Head of Government: King (head of state), Prime Minister (head of government)
• Independence: First organized as unified state in 10th century
• Ethnic Groups: Danish 86.3%, Turkish 1.1%, Other 12.6%
• Religions: Evangelical Lutheran 74.7%, Muslim 5.5%, Other Christian 3.3%, Other 1.6%, None 14.9%
• Literacy Rate: 99% (2003 est.)
• Transport: Copenhagen Airport, excellent road and rail networks, Øresund Bridge to Sweden, ferry connections
• Communications: Advanced telecommunications, 98% internet penetration, comprehensive 5G coverage
• Energy: Wind 50%, Oil 17%, Coal 16%, Natural gas 9%, Biomass 6%, Other renewables 2%
• Countries Using This Currency: Denmark
• Data Sources: Central Bank: Danmarks Nationalbank (nationalbanken.dk), Economic Data: Statistics Denmark, World Bank, IMF, Trade Data: Danish Customs and Tax Administration, Demographic Data: Statistics Denmark, Geographic Data: Danish Meteorological Institute, Historical Data: Danmarks Nationalbank archives
• Last Updated: 2025