The Danish krone contributes to a little less than 1% of foreign exchange market volume. It is the world’s twentieth most traded currency. The krone is subdivided into 100 øre.
Denmark is one of more than twenty nations and territories which currently pegs its currency to the euro. Denmark is the largest nation to do this.
Denmark is a member of the European Union but like the UK and Sweden, among other countries, it opted out of adopting the euro upon its introduction in 1999.
As part of the ERM II mechanism, the krone is restricted to moves of 2.25% above or below a fixed euro-krone exchange rate of 7.4604. In other words, the euro-krone rate can trade only between 7.2925 and 7.6282, and it is the role of Denmark’s central bank, Danmarks Nationalbanks, to ensure this happens.
Since 2004, the EUR/DKK rate has traded well within its allowed boundaries. Several times it ventured above 7.47, but no higher, and its most dramatic fall was only to 7.42.
Against the world's reserve currency, the US dollar, the krone was historically strongest in April 2008 when USD/DKK fell to just 4.66. The krone was at its weakest in February 1985 when USD/DKK reached 12.37.
DKK News, Forecasts and Trends
Against the US dollar, the Danish krone struck a 2-year low in May, at kr6.724 per USD, though that mostly reflected the greenback’s broad-based strength.
Like the euro to which it is pegged, against the pound, the krone experienced a record 14-day winning streak in May, and at the time of writing it remained near 4-month highs, at kr8.47.
In May, currency forecasts from Deutsche Bank implied more krone depreciation. The bank thinks USD/DKK could exceed kr6.8 over the summer, with key drivers being the US-China trade war, Brexit and Italian risks.
Also in May, Lloyds’ revised forecasts implied GBP/DKK rates near kr8.8 at year-end, though that could be much lower if Theresa May is replaced as UK PM by a hardline Brexiteer.
The below interactive chart shows the USD to DKK exchange rate, trend and recent alerts for the last 90 days.
Recent USD to DKK 90-day trend
ALERTS:1-DAY▼0.6% | 14-DAY LOWS |
USD/DKK at 6.5877 was trading 2.6% belowAVG:6.7653 with LO:6.5545 and HI:6.962 (90 days). ALERTS: Today USD/DKK was DOWN 0.6% and also dropped to 14-DAY LOWS.
US Dollar to Danish Krone - Historical Rates
29 Jun 2020 : 6.6263
06 Jun 2020 : 6.6044
07 Apr 2020 : 6.8536
07 Jul 2019 : 6.6475
08 Jul 2015 : 6.7476
09 Jul 2010 : 5.8986
USD/DKK 10 year historic rates & changes to 06-Jul-2020 : 6.5889
Travel, Currency and Money saving tips for Denmark
Denmark is a beautiful, clean, and fascinating country. Denmark has a long history dating back to the vikings, and the cities here are beautiful with their medieval charm. While Denmark's cities can be expensive try to visit the countryside which is gorgeous and less pricey. Denmarks landscape is beautiful, it’s clean, eco-friendly, still has a medieval Viking charm to it, and the locals love to have a good time (Danes frequently stay out until dawn). So long as you don’t get in the wrong bike lane, they are very welcoming to tourists.
Denmark gets it right: old-fashioned charm embraces the most avowedly forward-looking design and social developments. The country wins a regular place on lists of both the most liveable and the happiest nations on earth. You won’t have to search hard to find much-prized hygge, a uniquely Danish trait that has a profound influence on the locals’ inestimable happiness. Hygge is social nirvana in Denmark: a sense of cosiness, camaraderie and contentment.
What currency to use in Denmark?
Although Denmark is a member of the European Union, the Danes rejected the euro as their form of currency. They continue to use the krone (crown), which breaks down into 100 øre. The plural is kroner. The international monetary designation for the Danish kroner is "DKK." ATMs are plentiful and credit cards are accepted in most places.
In Denmark, the most commonly accepted credit cards are MasterCard and Visa. Of secondary importance are American Express and Diners Club.
How to get around in Denmark?
Denmark’s small size and efficient train network mean that domestic air traffic is limited, usually to business travellers and people connecting from international flights through Copenhagen, from where there are frequent services to a few of the more distant corners of the country. Internal flights are usually of no more than 30 minutes' duration.
Train travel across Denmark (Jutland to Copenhagen) costs around 445 DKK. Buses start around 308 DDK. The closer you get to the travel date the higher the cost. The train from the airport to Copenhagen center is 40 DDK. Local trains and buses are around 30 DDK for a two-zone ticket. The Danish rail system offers cheap tickets via their online website called “Orange tickets.” They are only available online, and you have to print out the ticket before you board the train. These tickets though are a third of the cost of what you can buy at the railway station. Booking train and bus tickets a month in advance can save you up to 50%.
Long-distance buses run a distant second to trains. Still, some cross-country bus routes work out to about 25% cheaper than trains. Nearly every town in Denmark supports a network of local buses, which circulate around the town centre and also connect it with outlying areas. In smaller towns, the local bus terminal is often adjacent to the train station and/or long-distance bus terminal.
Denmark is the most cycle-friendly country in the EU and cyclists are well catered for with excellent cycling routes throughout the country. It’s easy to travel with a bike anywhere in Denmark, even when you’re not riding it, as bicycles can be taken on ferries and trains for a modest fee.
Denmark is an excellent destination for a driving holiday. Roads are high quality and usually well signposted. Except during rush hour, traffic is quite light, even in major cities. One thing to be aware of is the large number of cyclists – they often have the right of way. It is particularly important that you check cycle lanes before turning right.
Is the Euro accepted in Denmark?
Denmark does not currently use the euro as its currency and has no plans to replace the krona in the near future. This is the same situation in all the Scandinavian countries - Norway, Sweden and Iceland. You may find some shops that will accept the Euro but watch out for the EUR/DKK exchange rates they offer.
Travel tips for Denmark.
Many tourists only spend a few days in Copenhagen before high costs force them to move on. However, Copenhagen, the capital of Denmark, is beautiful, the architecture is amazing, there is a great nightlife, and the locals are friendly. It’s also the largest city in Denmark.
Eating out in Denmark is not cheap, and since Denmark is known more for its views than its cuisine, you won't miss much by cooking your own food. There are plenty of streets stalls selling sausages and hot dogs etc, that are more on the budget side. However, though the country more expensive than, the countryside (especially Jutland), with its rolling hills, lakes, and jagged coastline are worth extending your stay just a little longer. Like their Scandinavian counterparts, Danes love the outdoors. There are plenty of hiking trails all throughout the country, many of which are interconnected. Whether you want a short day hike from the city or something more challenging, Denmark has it all.
Roskilde was Denmark’s capital from 960 to 1536. This is an amazing city to view the country’s history, whether it be at the various churches, brick building lined streets, or the Viking-influenced museums.
Travel money for Denmark
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.
Sending money to Denmark
When searching around for information on how to get a good exchange rate when sending money to Denmark you need to start with finding out the latest Danish Krone exchange rate for foreign-transfers, which can be very different to the wholesale rate.
Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees to see how much
you can save - we make that calculation easy in the below table.
Get a better deal for foreign transfers to Denmark
When sending money to Denmark 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 4 simple steps :
Open an account with a BER reviewed FX provider (id docs may be required)
You specify the local or Danish Krone amount you want to transfer
Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
Once your funds are received by the provider the converted DKK amount will be transfered to the recipient account you specify in Denmark.
Use the above Send to Danish Krone calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more -
end result is more Danish Krone deposited into the recipient bank account and less margins and fees kept by the banks!
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