Best CAD to DKK Exchange Rates - Compare Scotiabank & Save

In this CAD to krone (CAD/DKK) rate guide:

Scotiabank Rate Calculator - Canadian dollar to Danish krone

Exchange rates can vary significantly between different currency exchange providers, so it's important to compare Canadian dollar (CAD) to Danish krone (DKK) rates from different sources before making a conversion.

This Scotiabank exchange rate calculator makes it easy to compare the Total Cost you are being charged on Scotiabank CAD to krone currency rates and the possible savings of using various providers.

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Scotiabank at a glance

Scotiabank is a Canadian multinational bank and a leading financial institution in North and South America. The bank offers a wide range of financial products and services to individuals, businesses, and institutions, including banking, investment, and insurance services.

One of the financial products offered by Scotiabank is wire transfers. Wire transfers are a secure and fast way to transfer funds between banks in different countries. With Scotiabank wire transfers, you can send money to over 100 countries in a variety of currencies.

When you get a quote for your Wire Transfer from Scotiabank on their website or in-app, you can also see the Scotiabank exchange rate, but it can be difficult to then calculate how much markup from the market rate you are being charged.

Our research shows that on average, Scotiabank profit margin for foreign exchange rates is somewhere between 3 - 8%, depending on the amount you're sending, where you're sending it to and which currency will be received.

While all banks in Canada charge this markup, the extra amount being charged is much higher than it would be with a global money transfer specialist.

CAD to DKK Market Data

Canadian dollar (CAD) to Danish krone (DKK) market data - latest interbank mid-rate, trend, chart & historic rates.

1 CAD = DKK

CAD to DKK at 5.1007 is just 0.7% above its 3-month average of 5.0628, having traded in a quite stable 4.8% range from 4.9484 to 5.1836

26-MAY 6PM-NY 11PM-LON 27-MAY 6AM-HK 8AM-SYD

Sell CAD → Buy DKK

Track Rate

1 DKK = 0.1961 CAD

60-DAY▲HIGH4d

Date	CAD/DKK	Change	Period
12 May 2023	5.0250	1.5% ▲	2 Week
25 Feb 2023	5.1761	1.5% ▼	3 Month
26 May 2022	5.4257	6% ▼	1 Year
27 May 2018	4.9108	3.9% ▲	5 Year
28 May 2013	5.5758	8.5% ▼	10 Year
31 May 2003	4.5849	11.2% ▲	20 Year

CAD/DKK historic rates & change to 26-May-2023

What are CAD to DKK forecasts?

26 MayAccording to the recent market view, the CAD has shown some fluctuations due to the weaker oil prices and the USD uptick, as the currency is correlated to the crude prices. The Bank of Canada is also being watched closely as uptick in the producer prices may lead to speculation about the monetary policy again. Furthermore, the main cause of the Canadian dollar struggle is the risk-on and risk-off conditions in the financial markets, not the underlying fundamentals in Canada. It is being viewed that continued housing price declines and adverse wealth effects could put further negative pressure on the Canadian dollar in 2023.

Read our full analysis of CAD to DKK forecasts.

How to get a good CAD to DKK exchange rate

There are several ways to save on exchange rates when converting Canadian dollar to Danish krone:

Shop around for the best CAD/DKK exchange rate: Exchange rates can vary significantly between different currency exchange providers, so it's important to compare rates from different sources before making a conversion.
Timing is important: Keep an eye on the CAD/DKK rate on currency markets, as exchange rates can fluctuate frequently. Try to make your transactions when the exchange rate is in your favor. You can do this easily with our BER Smart Rate Tracker.
Use a credit/debit or travel card that doesn't charge foreign transaction fees: Some credit cards charge additional fees for transactions made in a foreign currency, so it's important to check with your card issuer to see if they charge these fees and what their exchange rate is.
Use a multi-currency account: Having a multi-currency account allows you to hold and transfer money in both CAD and DKK at close to the interbank rate. It also allows you to make payments or withdrawals in the local currency while avoiding high conversion fees.
Buy currency in advance: If you know that you will need foreign currency in the future, consider buying it in advance when the exchange rate is favorable.

The key is reducing excessive costs and fees

Generally speaking, if you are buying Danish krone with Canadian dollar, then it's better for the CAD/DKK exchange rate to be higher.

However working against you are the fees all foreign exchange providers charge for providing their service. These fees is usually contained within the exchange rate margin (or difference to the mid-rate).

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.

Our real-time foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.

It's worth noting that while these tips can help you save on exchange rates, it's important to be aware that no single method is guaranteed to provide the best exchange rate in every situation, and it may require some research and comparison-shopping to find the best option for your specific needs.

Will the Canadian dollar rise against the Danish krone?

It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.

To help with this you can add CAD/DKK to your personalised BER Smart Rate Tracker to track and benefit from currency movements.

Manage My Rates

Rather than requiring you to set a target rate, our FX Alerts work differently. Once you add a currency pair for tracking in your watchlist we can select to be notified daily for any UP▲ DOWN▼ HIGH▲ LOW▼ alerts over a range of periods over the recent 90 days.

Read our Currency guide to Denmark - a practical currency and money guide to travel, living and doing business in Denmark with the Danish krone.

Canadian dollar & Danish krone - Country Guides

Denmark (DKK)	Canada (CAD)	Faroe Islands (DKK)
Greenland (DKK)

Expat life in Denmark

For expats, Denmark is known for its high standard of living, excellent healthcare and education system, and strong economy. The country is also home to a diverse expat community, and major cities like Copenhagen and Aarhus offer a vibrant international community. However, the cost of living in Denmark can be relatively high, especially in major cities like Copenhagen. The weather in Denmark can be quite cold in the winter and quite cool in the summer with the occasional periods of rain throughout the year.

The language might be a barrier for some expats, as Danish is not widely spoken as a second language. However, in major cities like Copenhagen, most people do speak English fluently, and most official forms, documents and customer services are available in English.

Read more at our Denmark (DKK) country guide

Related exchange rates

Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more

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Scotiabank CAD to DKK Exchange Rates