🇩🇰Danish Krone (DKK)

The krone dates from 1875, when Denmark joined the Scandinavian Monetary Union with Sweden and Norway and replaced the rigsdaler; the union itself broke apart during the First World War, but all three countries kept the crown as the name of their currency. Danmarks Nationalbank, founded in 1818, is one of the oldest central banks still operating. The subunit has largely disappeared: only the 50-øre coin remains, so cash totals are rounded to the nearest 50 øre while card payments are exact, and Denmark is in any case among the countries where cash is used least.

Denmark holds a treaty opt-out from the euro, reaffirmed by referendum in 2000, but has taken part in the European exchange rate mechanism ERM II since 1 January 1999. It negotiated a narrower fluctuation band than the standard one, 2.25 percent either side of the central rate, and in practice the Nationalbank keeps the krone far closer than the band requires, adjusting interest rates and intervening in the market to do so. The practical effect for anyone converting is that a euro to krone conversion barely moves from week to week, while the krone against the dollar, the pound or the yen moves exactly as the euro does.

The krone is legal tender in Denmark, Greenland and the Faroe Islands; the Faroese króna is not a separate currency but a version of the krone issued by Danmarks Nationalbank and exchanged at par.