The krone is the currency used in Denmark. Although it is usual to talk about the Danish Kroner, it is actually more correct to talk about the krone, since the plural form is kroner, but it is like the difference between talking about English pounds and the English pound.
The krone is symbolised by the abbreviation kr so items will be marked as, for example, 1kr. It is referred to as the DKK in terms of the exchange rate and external financial markets. So sometimes you may see the krone referred to as kr other times as DKK, but they are basically just the krone.
The Danish krone is not just the currency of Denmark, but also of the Faroe Islands and Greenland. Denmark has opted out of the Euro, despite the fact that it is part of the European Union and a mass vote or referendum in the year 2000 meant that the Danish Krone would be in use for years to come, but another referendum is due in 2008 and it is likely that this will see the end of the Krone and Denmark opting instead to adopt the Euro.
The Danish Krone as we know it today was introduced in Denmark in the year 1873 and was an integral part of the Scandinavian Monetary Union, which was a union of Sweden, Denmark and then later Norway. The krone was placed on the gold standard, where its worth was assessed against gold.
This Union lasted until the year 1914 and with the break up of the union Denmark left the gold standard as the assessment rate and although it did return to it briefly in 1924, it left again in 1931, never to return.
During the years of 1940 until 1945, when Denmark was occupied, the krone was linked to the German mark (Reichsmark). After the war, economic uncertainty forced the krone to be devalued twice, with the last devaluation taking place in 1967.
The authority responsible for issuing the krone is the Danish National bank. The krone is broken down into 100 Øre. It has coins of 25 Øre and 50 Øre in circulation, although the 25 Øre coins will not be legal tender after October 1st 2008.
1 krone coins are in circulation, as are 2, 5, 10 and 20 kroner coins, the rest being notes.
The notes are issued in various denominations ranging from 50 to 1000 kroner.
In Greenland, the notes in use have traditionally been standard Danish notes, but these are to be replaced with specific kroner that are Greenland kroner, by 2008.
In Faroe the use of Danish coins is common, but the banknotes are slightly different and they are recognised as Faroese kroner.
In both countries, the Danish krone can be used alongside the specific Faroese or Greenland krone, with the exchange rate being 1:1.
If you are travelling extensively throughout Europe, then you should only exchange enough kroner to keep you going whilst you are in the country, otherwise you will pay an exchange rate twice, if you have to change money back into euros.
Denmark is obviously a developed country and it is possible to use your credit card or direct debit card in Denmark. However, it is not possible to use it as widely as you may expect and in fact many shops and restaurants simply do not accept major cards such as Visa, American Express or Mastercard. So for eating out and shopping, it really is advisable to make sure that you have enough cash to keep you going. Whilst more and more places are now accepting credit cards, it is by no means a done deal, so always assume that cards will not be accepted and then if they are it will be a pleasant surprise. Smaller shops and restaurants in particular may not take them and so it is best to carry a little extra cash, for any surprise purchases.
In addition, if you want to travel around Denmark and due to the fact that it is a collection of over 500 islands, it is likely that you will want to 'island hop' and credit cards may not be accepted as payment for the ferries, you really should have cash, in order to save any financial embarrassment.
It is possible to use foreign money such as the euro or even American dollars and the British pound at the airport or at some of the bigger hotels, but remember that the exchange rates here are really bad and this will prove a really expensive option. Some tourist shops will also accept the euro in particular, but again this will be at a very poor exchange rate.
Most travellers use an ATM to withdraw funds, with the best rates being available on debit cards, since you will pay extra interest on credit cards for cash.
There are also various Forex bureaus available where cash can be exchanged for a flat fee of 30 kr but you will find that the exchange rate is not as good as you would get from an ATM.
Denmark is not a cheap country. It does have a tendency to be quite expensive for travellers and in particular, alcohol can be quite expensive, so if having a fair few drinks is an integral part of your holiday then you may find that Denmark is relatively expensive.
Eating out can also cost quite a lot in Denmark and so it is not a budget location. However, to put this into context, going out and enjoying all that Denmark has to offer is not significantly more expensive than if you travel to London, Paris or Dublin. Also Denmark does seem to be getting less expensive when compared to other countries. Copenhagen was named as the 3rd most expensive capital in Europe, in 2006. Yet by the beginning of 2008 it had moved down to the 5th most expensive capital in Europe, so it is not as prohibitively expensive as some people may imagine.
Copenhagen in particular has a wide range of places to eat and drink and a large number of ethnic restaurants, where prices are relatively cheap. One important thing to remember about eating out in Denmark is that you really do not need to tip a large amount. Waiters (and of course waitresses) are all on salaries, so they may expect to earn a tip, but perhaps not as substantial a tip as would be expected in other countries.
For travellers who really don't have a big budget, it is possible to minimise costs by buying food and drink at supermarkets, which are actually quite cheap and will save you a lot of money. This means that you can buy some staples such as juice, water, even wine and some snacks to enjoy whilst you are out and about and then you will have more money available for treats such as dinner and even a few drinks in a bar.
If you are going to be in Copenhagen for any length of time, then it is well worth considering buying a Copenhagen card, which offers you free entry to 70 of the most popular tourist attractions and museums, not just in Copenhagen, but in the
Greater Copenhagen area. The card does only last for 72 hours, but it also gives you free transport (on buses and trains only).
The Copenhagen Card will let you go to Tivoli, but you still have to pay to get into the theme park. However, it is very good value and is a one off price, so if you have limited funds, then you will undoubtedly find that it is not just good value for money, but can really help you budget for your break.
Many of the museums in Denmark don't have an entrance fee, so they can offer excellent value for money.
There are also some great walks to be had and walking around Copenhagen is a great way to get a real feel for the city as well as walking off any culinary excesses you have indulged in. Indeed walking down the Stroget is a tourist attraction in itself and since the area is pedestrianised everyone has to walk. This area is a range of 5 streets, all of which are jam packed with shops and little cafes and restaurants, with a great feel to them, so whatever your tastes or interests, you will find something to take your fancy.
Denmark is a relatively safe place to visit, with an astonishingly low crime rate and petty theft is still a real rarity, so you should be safe when out and about. However, despite the fact that it is such a safe country crime does still exist and accidents can and do happen. So whilst you may feel very safe and relaxed, it is worth just being careful with your money and making sure that you store it safely to avoid either losing it or having money stolen. However, as long as sensible precautions are taken, you are very likely to have few problems with safety.
With its excellent public transport system and its people who are generally very warm and welcoming, Denmark really is a great place to visit and it may not be as cheap as some other European capitals, but it has an air of maturity and gentleness that is sadly lacking in many other European countries. It is also a very unique country, with a very separate identity, straddling both European and Scandinavian cultures.
With less than 6 million people it is a very small country in terms of population and yet it is known throughout the world for its generous social care system and its liberal attitudes, as well as its lager production.
With the krone still in use, Denmark also offers visitors a slice of a unique monetary system, which is different from the standard euro that is used throughout most of Europe and it is a very interesting and friendly place, which leaves visitors and travellers with some very fond memories of this very small yet very proud and famous country.