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Foreign Exchange Guide to the Faroe Islands

Country Code:
FO
Domestic Currency:
Danish Krone
Currency Code:
kr DKK
Telephone Prefix:
+298

In this guide we review :

  1. Buying Danish Krone Cash Online - Travel money for the Faroe Islands
  2. Danish Krone (DKK) - Currency Market News
  3. Sending Money to the Faroe Islands - Save on Danish Krone bank transfers
  4. Danish Krone Exchange Rates - Latest info & charts.

Travel Money for the Faroe Islands - Buying Danish Krone (DKK)

Save money and time by Ordering your Danish Krone Online from Travelex, you get better rates and can pick up the DKK cash locally or even on travel day at the airport.

Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.

For card purchases if offered a choice of currencies always select to Pay in Danish Krone otherwise you may get much worst exchange rates.


Faroe Islands Trip Checklist   

  1. Compare DKK Travel Cash Rates - probably why you are here!
  2. Hotel Deals - Save on your accomodation in the Faroe Islands
  3. Travel Insurance - for those unexpected travel adventures...
  4. Lonely Planet - Travel Guide 3 for 2 offer

Danish Krone (DKK) - Currency Market News

The Danish krone is pegged to the euro (see General Info, above) and as such it shares the same general trading patterns and outlook as does the single currency.

In early August, the krone rally was still firmly intact.

In the first week of August, DKK/USD was trading at levels around $0.16, close to a two-and-a-half-year high, having been as low as $0.139 in January.

Against the British pound and Japanese yen, the krone also stood in early August at multi-month highs at £0.121 and ¥17.6 respectively.

The krone has rallied strongly since late April following Emmanuel Macron’s victory in the French presidential election and in light of speculation that the ECB will soon taper its bond buying program. ECB president Mario Draghi also boosted euro and krone sentiment in late June when he said that factors currently weighing on eurozone inflation were temporary in nature and the ECB would look through them when forming its future monetary policy.

For the rest of 2017, the krone will likely be driven by speculation surrounding ECB policy. Any move to scale back the bank's bond buying (akin to monetary policy tightening) would be supportive of higher krone exchange rates.


Sending Money to the Faroe Islands

When sending money to the Faroe Islands it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 3 simple steps :

  1. Open an account with a provider (id docs may be required)
  2. You specify the local or Danish Krone amount you want to transfer
  3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
  4. Once your funds are received by the provider the converted DKK amount will be transfered to the recipient account you specify in the Faroe Islands.

You can save around 5% and maybe more - end result is more Danish Krone deposited into the recipient bank account in the Faroe Islands and less margins and fees kept by the banks!

Compare Transfer Exchange Rates to the Faroe Islands


Danish Krone - Latest Rate Info

Popular Danish Krone Cross Rates
View Full List (A-Z)
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