AED/DKK update & alerts
1 AED = 1.8407 DKK
AED/DKK Exchange Rates and Providers Compared
This guide to the United Arab Emirates Dirham to Danish Krone exchange rate with 90-day chart & alerts, historic rates, forecasts and AED to DKK comparison tables for foreign transfers and travel money rates and fees on offer by banks and foreign exchange providers. If you want to calculate equivalent amounts in foreign currencies or rate margins then use our AED/DKK Quick Calculator.
AED and DKK in the Markets
When determining the best time to make a foreign exchange transaction, in this case the AED vs DKK, you should pay attention to the recent market trends for both currencies.
United Arab Emirates Dirham (AED)
All the Gulf Cooperation Council (GCC) countries, excluding Kuwait, have their currencies pegged to the US dollar. The UAE dirham has been fixed at a rate of around 3.6725 to $1 since 1997.
Danish Krone (DKK)
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.
Why can't I just get the AED/DKK market rate I see online or in the media?
The mid-rate is the rate you will see quoted online or the news. It is actually just the half-way point (hence mid-rate) between the last rate at which the AED / DKK was traded (bought or sold) in the international markets.
All foreign exchange providers charge a fee for providing their service and this fee is usually contained within the exchange rate margin (or difference to the mid-rate). Some providers such as Transferwise will quote you the mid-rate (or close to) and charge a separate percentage fee.
Getting a good market rate is mainly about timing however the transaction margin you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for travel money and possibly over 5% to 6% when sending money. The exact potential savings depends on the currencies being exchanged and the amount you are transferring and if you are willing to shop around.
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