DKK Meaning: Definition, Examples, and Translations
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DKK
[diห keษช keษช ]
Definition
currency code
DKK is the currency code for the Danish krone, the official currency of Denmark and its territories. It is subdivided into 100 รธre and is typically used in various financial transactions within Denmark. DKK is also recognized in some Danish territories, highlighting its importance in the region.
Synonyms
Danish krone.
Examples of usage
- I exchanged my dollars for DKK before traveling to Denmark.
- The price of the hotel was listed in DKK.
- He saved 500 DKK to spend on souvenirs.
- The company reported its earnings in DKK.
Translations
To see the translation, please select a language from the options available.
Interesting Facts
History
- The krone has been the official currency of Denmark since 1875 entered into the Scandinavian Monetary Union.
- In 1924, the division of the krone into 100 ore was established to simplify transactions.
Economics
- The DKK is considered a stable currency, and Denmark is known for its strong financial regulations.
- The currency is pegged to the Euro within a specific range, helping to stabilize its value against other currencies.
Cultural Significance
- Danish banknotes feature notable figures in Danish history, such as Hans Christian Andersen.
- Coins often have designs that reflect Denmarkโs cultural heritage, including symbols of its national identity.
International Relations
- Despite being part of the European Union, Denmark has opted not to adopt the Euro, continuing to use DKK.
- The DKK is widely accepted in Greenland and the Faroe Islands, regions that are part of the Kingdom of Denmark.
Origin of 'DKK'
Main points about word origin
- The term 'krone' means 'crown' in Danish, representing the monarchic history of Denmark.
- Before adopting the krone, Denmark used the 'rigsdaler' as its currency, which was in use until the 19th century.
The term 'krone' derives from the Latin word 'corona', meaning 'crown'. The Danish krone has been in circulation since the late 19th century, officially introduced in 1875 when Denmark joined the Scandinavian Monetary Union. The term 'krone' was chosen to represent the currency due to its association with royalty and the Danish crown. The currency code DKK was established under the ISO 4217 standard, which assigns three-letter codes to currencies worldwide. Over the years, the DKK has experienced fluctuations in value, influenced by economic factors both locally and globally. The krone is often depicted with the symbol 'kr', which can sometimes create confusion with other currencies that use similar symbols.