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Greenland - Danish Krone - Currency Guide

 

Foreign exchange guide to Greenland and the Danish Krone (DKK)

   

General Currency Info - Danish Krone

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:4-DAY1.8% | 30-DAY LOWS |
USD/DKK at 6.7222 was trading 1.5% below AVG:6.8267 with LO:6.5187 and HI:7.0103 (90 days). ALERTS: USD/DKK was DOWN 1.8% this 4-DAY period and also dropped to 30-DAY LOWS.

US Dollar to Danish Krone - Historical Rates

USD/DKKPeriod to 28-MayDateRate
1.2% ▼1 Week21 May 20206.8110
2.2% ▼30 Days28 Apr 20206.8829
0.7% ▼90 Days28 Feb 20206.7758
0.4% ▲1 Year29 May 20196.7061
0.9% ▼5 Years30 May 20156.7932
11.5% ▲10 Years31 May 20106.0389
USD/DKK 10 year rates & changes to 28-May-2020 (6.7315)

US Dollar to Danish Krone - Quick Conversions

USD DKK
U$ 1 Dkr 6.7223
U$ 5 Dkr 33.61
U$ 10 Dkr 67.22
U$ 20 Dkr 134.45
U$ 50 Dkr 336.12
U$ 100 Dkr 672.23
U$ 250 Dkr 1,681
U$ 500 Dkr 3,361
U$ 1,000 Dkr 6,722
U$ 2,000 Dkr 13,445
U$ 5,000 Dkr 33,612
U$ 10,000 Dkr 67,223
U$ 50,000 Dkr 336,115
U$ 100,000 Dkr 672,230
More amounts
USD DKK
U$ 0.1488 Dkr 1
U$ 0.7440 Dkr 5
U$ 1.4880 Dkr 10
U$ 2.9760 Dkr 20
U$ 7.4400 Dkr 50
U$ 14.88 Dkr 100
U$ 37.20 Dkr 250
U$ 74.40 Dkr 500
U$ 148.80 Dkr 1,000
U$ 297.60 Dkr 2,000
U$ 744.00 Dkr 5,000
U$ 1,488 Dkr 10,000
U$ 7,440 Dkr 50,000
U$ 14,880 Dkr 100,000
More amounts

Frequently Asked Questions

 

What currency should I use in Greenland?

The domestic currency in Greenland is the Danish Krone.

What is the Danish Krone currency code and symbol?

The three letter currency code for the Danish Krone is DKK — symbol is Dkr.

Which countries use the Danish Krone?

It is the domestic currency in    Denmark,   Faroe Islands and Greenland.

Is the Danish Krone a closed currency?

No, the Danish Krone is freely available and convertible. See guide: What is a closed currency?

 

Travel, Currency and Money saving tips for Greenland

Travel money for Greenland

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 Greenland

When searching around for information on how to get a good exchange rate when sending money to Greenland you need to start with finding out the latest Danish Krone foreign-transfer exchange 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 here).


Get a better deal for foreign transfers to Greenland

When sending money to Greenland 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 :

  1. Open an account with a BER reviewed FX 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 Greenland.

Use our 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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