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In Europe, the most commonly used currency is the euro (used by 26 countries); any country entering the European Union (EU) is expected to join the eurozone [1] when they meet the five convergence criteria. [2] Denmark is the only EU member state which has been granted an exemption from using the euro. [1]
The krone (Danish: [ˈkʰʁoːnə]; plural: kroner; sign: kr.; code: DKK) is the official currency of Denmark, Greenland, and the Faroe Islands, introduced on 1 January 1875. [3] Both the ISO code "DKK" and currency sign "kr." are in common use; the former precedes the value, the latter in some contexts follows it.
The Norwegian krone is also informally accepted in many shops in Sweden and Finland that are close to the Norwegian border, and also in some shops in the Danish ferry ports of Hirtshals and Frederikshavn. Norwegians spent 14.1 billion NOK on border shopping in 2015 compared to 10.5 billion NOK spent in 2010. Border shopping is a fairly common ...
Among the Nordic countries, Finland is today the number one Nordic industrial country, as the manufacturing industry in Finland accounts for the greatest proportion of the country's jobs, around 16 per cent. By way of comparison, in Denmark, Norway and Iceland it only accounts for less than 13 per cent of total employment. [100]
The Scandinavian Monetary Union was a monetary union formed by Denmark and Sweden on 5 May 1873, with Norway joining in 1875. It established a common currency unit, the krone/krona, based on the gold standard. It was one of the few tangible results of the Scandinavian political movement of the 19th century. The union ended during World War I. [1]
Denmark São Tomé and Príncipe ; WAEMU Benin Burkina Faso Côte d'Ivoire Guinea-Bissau Mali Niger Senegal Togo ; CEMAC Cameroon Central African Republic Chad Equatorial Guinea Gabon Republic of Congo Fiji Libya Eswatini Lesotho
The more generally used currency system until 1813, however, was the Danish rigsdaler worth 1 1 ⁄ 2 krone (or schlecht daler), 6 marks, or 96 skilling. [3] [4] [5] The Danish rigsdaler used in the 18th century was a common system shared with the silver reichsthalers of Norway, Hamburg and Schleswig-Holstein.
On 5 May 1873 Denmark with Sweden fixed their currencies against gold and formed the Scandinavian Monetary Union. Prior to this date, Denmark used the Danish rigsdaler divided into 96 rigsbank skilling. In 1875, Norway joined this union. A rate of 2.48 kroner per gram of gold, or roughly 0.403 grams per krone was established.