In this article, we’re exploring the best currency for Denmark transactions. This will be relevant for anyone traveling to Denmark, doing business in Denmark, or considering opening international accounts in Denmark.
This article is part of our free series on opening a foreign currency account which you can access here.
Feel free to use the table of contents to jump ahead to the sections most relevant to you.
Table of Contents
- Currency for Denmark
- Can I Use Foreign Currency in Denmark?
- Frequently Asked Questions
- Do You Want Help Opening Bank Accounts?
Currency for Denmark
The best currency for Denmark transactions is the Danish krone with the currency symbols kr and Danish currency code DKK. The Danish krone is available in both banknotes and coins. Money in Denmark is managed by the Danish central bank Danmarks Nationalbank. However, printing of the krone is outsourced.
The Danish krone has been Denmark’s national currency since 1875. Prior to the current krone, there were various other currencies, including krone in other forms. In fact, the krone has existed as Danish currency since at least 1513.
In terms of foreign exchange rates over the last five years, the currency conversion rate of the krone has decreased slightly against major international benchmark currencies. However, currency exchange compared to less liquid currencies varies.
That said, the most important conversion that most people consider is euro to Danish krone. This is because while Denmark has been a member of the European Union since 1973, it is not obligated to introduce the euro. In short, the reason that your travel money for Denmark is the krone and not euros is because Denmark negotiated a unique opt-out arrangement.
Here is a breakdown of the specific denominations available for the krone, both in terms of coins and banknotes.
Danish Coins
The Danish coins that are available include 50-øre, 1, 2, 5, 10, and 20 kroner denominations.
Danish Krone Banknotes
The Danish krone banknotes that are available in 50, 100, 200, 500, and 100 kroner denominations.
Can I Use Foreign Currency in Denmark?
Generally speaking, it is possible to use foreign foreign currency in Denmark. However, it will depend on the specific foreign currency that you want to use. Likewise, because the only legal tender in Denmark is the Danish krone, whether a retail location, restaurant, or tourism operator will accept foreign currency will vary widely.
Lastly, it’s important to note that the foreign exchange rate offered for foreign currency at retail, restaurants, and tourism operators will be unfavorable.
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Frequently Asked Questions
Below are a few of the most common questions we receive from people looking into the currency of Denmark. If you have further questions you would like to ask our team, don’t hesitate to get in touch.
What’s the Best Way to Get Danish Krone in Denmark?
Is the Danish Krone Accepted Outside of Denmark?
The Danish krone is accepted outside of Denmark. More specifically, it is accepted in Greenland and the Faroe Islands, which are both autonomous territories of the Kingdom of Denmark.
How Much Is $100 US in Denmark?
Over the last five years, the value of $100 US dollars in Denmark has ranged from a low of 602 and a high of 775. That said, in more recent years $100 US dollars has generally been worth between 705 and 695.
What Is the Best Currency to Take to Denmark?
The best currency to take to Denmark is the Danish Krone. However, if you do not have Danish Krone available to you ahead of your travels, then you can exchange most major currencies upon arriving. On the other hand, if you have a foreign credit or debit card, you will also be able to use these in Denmark.
Can You Use the Euro in Denmark?
Yes, it is possible to use the euro in Denmark. This is especially true in areas that are more accustomed to European tourists. However, as a foreign currency, the exchange rate offered at retail outlets, restaurants, and tourism operators is not usually in the best interest of the end consumer.
Can I Use the United States Dollar in Denmark?
Yes, you can use the United States dollar in Denmark at certain retail locations, restaurants, and tourism operators. However, it’s important to note that the United States dollar is not as widely accepted as other foreign currencies, like the euro.
Is the US Dollar Strong in Denmark?
The US dollar is strong in Denmark and has been strengthening over the last five years. In fact, since July 2018, the United States dollar has appreciated by almost 8% against the Danish krone.
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