One krone is divided into 100 ore, and coins are available in denominations of 1, 2, 5, 10, 20 and 50 ore, as well as 1, 2 and 5 kroner. Banknotes are available in denominations of 10, 20, 50, 100, 200 and 1000 kroner.
The Krone was introduced in 1875, replacing the former Danish currency, the rigsdaler. The word “krone” means “crown” in Danish, and refers to the three crowns on the national coat of arms.
Denmark joined the European Union in 1973 at the same time as the UK. It is the only EU country which has an opt-out from joining the Euro. Whilst it meets most of the convergence criteria and has the option, domestic opinion is firmly against it.
Denmark is currently part of EMII and the Krone is pegged to the Euro at a rate of 7.46038:1.
The Danish krone is managed by the Danmarks Nationalbank which is based in Copenhagen and holds authority over monetary policy.