Danish krone

The krone (Danish pronunciation: [ˈkʁoːnə]; 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 currency is sometimes referred to as the Danish crown in English, since krone literally means crown. Historically, krone coins have been minted in Denmark since the 17th century.

One krone is subdivided into 100 øre (Danish pronunciation: [ˈøːɐ]; singular and plural), the name øre possibly deriving from Latin aureus meaning "gold coin".[4] Altogether there are eleven denominations of the krone, with the smallest being the 50 øre coin, which is valued at one half of a krone. Formerly there were more øre coins, but those were discontinued due to inflation.

The krone is pegged to the euro via the ERM II, the European Union's exchange rate mechanism. Adoption of the euro is favoured by some of the major political parties, however a 2000 referendum on joining the Eurozone was defeated with 53.2% voting to maintain the krone and 46.8% voting to join the Eurozone.[5]

Danish krone
DKK 100 obverse (2009) 1 krone coin
100 kroner banknote1 krone coin
ISO 4217
CodeDKK
Number208
Exponent2
Denominations
Subunit
 1/100øre
Pluralkroner
øreøre (singular and plural)
Symbolkr.
Banknotes50, 100, 200, 500, 1000 kroner
Coins50-øre, 1, 2, 5, 10, 20 kroner
Demographics
User(s) Denmark
 Greenland
 Faroe Islands
1
Issuance
Central bankDanmarks Nationalbank
 Websitewww.nationalbanken.dk
Valuation
Inflation0.6% (Denmark only)
 SourceAugust 2013[1]
Pegged withEuro (€) = 7.4504 DKK
ERM
 Since13 March 1979
=7.46038 kr.[2]
 Band2.25%
  1. Special banknotes are issued for use on the Faroe Islands – see Faroese króna

History

1868 Danish 2 rigsdaler both
A Danish silver two rigsdaler piece of 1868, with the portrait of Christian IX.
Two 20kr gold coins
Two golden 20 kr coins from the Scandinavian Monetary Union, with identical weight and composition. The coin to the left is Swedish and the right one is Danish.

The oldest known Danish coin is a penny (penning) struck AD 825–840,[6] but the earliest systematic minting produced the so-called korsmønter or "cross coins" minted by Harald Bluetooth in the late 10th century.[7] Organised minting in Denmark was introduced on a larger scale by Canute the Great in the 1020s. Lund, now in Sweden, was the principal minting place and one of Denmark's most important cities in the Middle Ages, but coins were also minted in Roskilde, Slagelse, Odense, Aalborg, Århus, Viborg, Ribe, Ørbæk and Hedeby. For almost 1,000 years, Danish kings – with a few exceptions – have issued coins with their name, monogram and/or portrait.[3] Taxes were sometimes imposed via the coinage, e.g., by the compulsory substitution of coins handed in by new coins handed out with a lower silver content.[3]

Danish coinage was generally based on the Carolingian silver standard. Periodically, the metal value of the minted coins was reduced, and thus did not correspond to the face value of the coins. This was mainly done to generate income for the monarch and/or the state. As a result of the debasement, the public started to lose trust in the respective coins. Danish currency was overhauled several times in attempts to restore public trust in the coins, and later in issued paper money.[3]

In 1619 a new currency was introduced in Denmark, the krone (crown). One krone had the value of 1 1/2 Danish Rigsdaler Species accounting for 96 Kroneskillinger, later for 144 common Skillings.[8]

Until the late 18th century, the krone was a denomination equal to 8 mark, a subunit of the Danish rigsdaler.[9] A new krone was introduced as the currency of Denmark in January 1875. It replaced the rigsdaler at a rate of 2 kroner = 1 rigsdaler. This placed the krone on the gold standard at a rate of 2480 kroner = 1 kilogram fine gold. The latter part of the 18th century and much of the 19th century saw expanding economic activity and thus also a need for means of payment that were easier to handle than coins. Consequently, banknotes were increasingly used instead of coins.[3]

The introduction of the new krone was a result of the Scandinavian Monetary Union, which came into effect in 1873 (with the coins being adopted two years later) and lasted until World War I. The parties to the union were the three Scandinavian countries, where the name was krone in Denmark and Norway and krona in Sweden, a word which in all three languages literally means crown. The three currencies were on the gold standard, with the krone/krona defined as ​12480 of a kilogram of pure gold.

The Scandinavian Monetary Union came to an end in 1914 when the gold standard was abandoned. Denmark, Sweden and Norway all decided to keep the names of their respective and now separate currencies.

Denmark returned to the gold standard in 1924 but left it permanently in 1931. Between 1940 and 1945, the krone was tied to the German Reichsmark. Following the end of the German occupation, a rate of 24 kroner to the British pound was introduced, reduced to 19.34 (4.8 kroner = 1 US dollar) in August the same year. Within the Bretton Woods System, Denmark devalued its currency with the pound in 1949 to a rate of 6.91 to the dollar. A further devaluation in 1967 resulted in rates of 7.5 kroner.

In 2014, it was decided to stop printing of the Krone in Denmark, but the work would be outsourced, and on 20 December 2016, the last notes were printed by the National Bank.[10]

Current status

Relationship to the euro

Denmark has not introduced the euro, following a rejection by referendum in 2000, but the Danish krone is pegged closely to the euro in ERM II, the EU's exchange rate mechanism. Denmark borders one eurozone member, Germany, and one EU member, Sweden, which is legally obliged to join the euro in the future (though Sweden maintains that joining ERM II is voluntary, thus avoiding euro adoption for the time being).

Faroe Islands and Greenland

The Faroe Islands uses a localized, non-independent version of the Danish krone, known as the Faroese króna pegged with the Danish krone at par, using the Danish coin series, but have their own series of distinct banknotes, first being issued in the 1950s and later modernized in the 1970s and the 2000s.

Greenland adopted the Act on Banknotes in Greenland in 2006 with a view to introducing separate Greenlandic banknotes. The Act entered into force on 1 June 2007. In the autumn of 2010, a new Greenlandic government indicated that it did not wish to introduce separate Greenlandic banknotes and Danmarks Nationalbank ceased the project to develop a Greenlandic series. Still, Greenland continues to use Danish kroner as sole official currency. Historically, Greenland under the colonial administration issued distinct banknotes between 1803 and 1968, together with coins between 1926 and 1964 (see Greenland rigsdaler and Greenland krone).

Faroe Islands and Greenland have their own IBAN codes (FO and GL, while Denmark has DK). Transfers between the countries count as international with international fees, outside EU rules.

Coins

Alloys and colour scheme

10 kroner coin 2011-
An aluminium bronze 10-kroner coin (2011- series)

The design of the coin series is intended to ensure that the coins are easy to distinguish from each other:

The series is therefore divided into three sequences, each with its own metal colour. This division into colours has its roots in history. In earlier times, the value of the coins was equivalent to the value of the metal from which they were minted: gold was used for the coins of the highest denominations, silver for the next-highest, and copper for the lowest coin denominations. This correlation between colour and value has been retained in the present coin series (see examples to the right). The 50-øre coins are thus minted from copper-coloured bronze, the 1-, 2- and 5-krone coins from a silver-coloured cupronickel alloy, and the 10- and 20-krone coins from golden aluminium bronze.

The coins differ in terms of size, weight and rim. Within each sequence the diameter and weight of the coins increase with their value. The 50-øre and 10-krone coins have smooth rims, while the rims of the 1- and 5-krone coins are milled. The rims of the 2- and 20-krone coins have interrupted milling. The 1-, 2- and 5-krone coins have a hole in the middle. Use of these various characteristics makes it easy for the blind and sight-impaired to tell the coins apart.

Currently circulated coins
Value Technical parameters Description
Diameter Thickness Mass Composition Edge Obverse Reverse
50-øre 21.5 mm 1.55 mm 4.3 g Tin-bronze Smooth Crown of King Christian V  Heart
(symbol of the Royal Mint)
1-kr. 20.25 mm 1.6 mm 3.6 g Cupronickel
75% Cu, 25% Ni
Milled Monogram of
Queen Margrethe II
 
Traditional design (holed)
2-kr. 24.5 mm 1.8 mm 5.9 g Interrupted milling
5-kr. 28.5 mm 2 mm 9.2 g Milled
10-kr. 23.35 mm 2.3 mm 7 g Aluminium bronze
92% Cu, 6% Al, 2% Ni
Smooth Queen Margrethe II The national coat of arms
20-kr. 27 mm 2.35 mm 9.3 g Interrupted milling
For table standards, see the coin specification table.

Commemoratives and thematic coins

The coins of the programme have the same size and metal composition as the regular coins of their denomination.

The first series, 20-krone coins featuring towers in Denmark, ran between 2002 and 2007 and spawned ten different motifs. Upon selecting the towers, importance had been attached not only to display aesthetic towers, but also towers with different form, functions and from different regions of Denmark, the Faroe Islands and Greenland. The last coin depicting the Copenhagen City Hall was issued in June 2007, marking the end of the series. A second series of 20-krone coins, starting in 2007 with twelve different planned motifs and ten already released by November 2011, shows Denmark as a maritime nation in the world, featuring iconic Danish, Faroese and Greenlandic ships and like the previous series of tower coins, the series reflect various landmarks in shipbuilding in the three countries.

In 2005, Danmarks Nationalbank issued the first in a series of five 10-krone commemorative coins with motifs from Hans Christian Andersen's fairy tales. The motifs depicted on the coins were chosen to illustrate various aspects and themes central to the fairy tales with the fifth and final fairy tale coin inspired by The Nightingale being issued on 25 October 2007.[11] In 2007, as the fairy tale series ended, a second series of three 10-krone commemorative coins was introduced, celebrating the International Polar Year. Featuring motifs of a polar bear, the Sirius Sledge Patrol and the Aurora Borealis, the coins aimed to accentuate scientific research in the backdrop of Greenlandic culture and geography. The third and final coin entitled 'Northern Lights' marked the completion of the series in 2009.[12]

Banknotes

Most Danish banknotes (with a few exceptions) issued after 1945 are valid as payment. Banknotes have since 1945 been issued with the values: 5 kroner, 10 kroner, 20 kroner, 50 kroner, 100 kroner, 200 kroner, 500 kroner & 1000 kroner.

Portrait and landscape series

The Portrait and landscape series was issued from 1952 to 1964. It was replaced in 1972.[13]

Banknotes of Denmark, 1952 series
Value Dimensions Main color Description Date of
Obverse Reverse first printing issue
5 kroner 125 × 65 mm Green Bertel Thorvaldsen
The Three Graces
Kalundborg seen from the fjord 1952 14 October 1952
10 kroner 125 × 65 mm Orange/Gold Hans Christian Andersen
Stork's nest
Egeskov Mill 1952 14 October 1952
50 kroner 153 × 78 mm Blue Ole Rømer
Rundetaarn
Stenvad long barrow 1957 21 May 1957
100 kroner 155 × 78 mm Red Hans Christian Ørsted
Compass
Kronborg 1962 3 May 1962
500 kroner 175 × 90 mm Green Christian Ditlev Frederik Reventlow
Plough man
Roskilde seen from the fjord 1964 2 June 1964

Jens Juel series

The Jens Juel series was issued from 1975 to 1980. It was replaced in 1997. Every note had a painting made by Jens Juel on the obverse side.[14]

Banknotes of Denmark, 1972 series
Value Dimensions Main color Description Date of
Obverse Reverse first printing issue
10 kroner 125 × 67 mm Yellow Cathrine Sophie Kirchhoff Common eider 1975 8 April 1975
20 kroner 125 × 72 mm Light Brown Pauline Tutein Two house sparrows 1980 11 March 1980
50 kroner 139 × 72 mm Blue Engelke Charlotte Ryberg Crucian carp 1975 21 January 1975
100 kroner 150 × 78 mm Red Jens Juel (self-portrait) Red underwing 1974 22 October 1974
500 kroner 164 × 85 mm Green Franziska Genoveva von Qualen Sand lizard 1974 18 April 1974
1000 kroner 176 × 94 mm Grey Thomasine Heiberg Red squirrel 1975 11 March 1975

1997 series

The 1997 series was issued from 1997 to 1999. It was replaced in 2009.[15]

Banknotes of Denmark, 1997 series
Value Dimensions Main color Description Date of
Obverse Reverse first printing issue
50 kroner 125 × 72 mm Purple Karen Blixen Centaur from Landet Church, Tåsinge 1999 7 May 1999
100 kroner 135 × 72 mm Orange/Gold Carl Nielsen Basilisk from Tømmeby Church, Hanherred 1999 22 November 1999
200 kroner 145 × 72 mm Green Johanne Luise Heiberg Lion from Viborg Cathedral 1997 10 March 1997
500 kroner 155 × 72 mm Blue Niels Bohr Knight in armour fighting dragon, Lihme Church 1997 12 September 1997
1000 kroner 165 × 72 mm Red Anna & Michael Ancher Tournament scene, Bislev Church 1998 18 September 1998

Bridge series

The process of designing the 'Bridge' banknotes was initiated in 2006 by the Danish National Bank.[16] The theme of the new banknotes is Danish bridges and the surrounding landscapes, or details from these landscapes. Danish artist Karin Birgitte Lund has chosen to interpret this theme in two ways: bridges as links between various parts of Denmark and as links between the past and the present. The present is represented by the bridges, the past by five distinctive prehistoric objects found near the bridges. Among the new security features is a window thread ("Motion") with a moving wave pattern. Another feature is a new, sophisticated hologram that reflects light in different colors. The new banknotes also have the traditional security features such as the watermark and the hidden security thread.

Banknotes of Denmark, 2009 series
Image Value Dimensions Main color Description Date of
Obverse Reverse Obverse Reverse Watermark first printing issue
DKK 50 obverse (2009) DKK 50 reverse (2009) 50 kroner 125 × 72 mm Purple Sallingsund Bridge Skarpsalling vessel Denomination and Skuldelev Viking Ship in Roskilde Fjord 2009 11 August 2009
DKK 100 obverse (2009) DKK 100 reverse (2009) 100 kroner 135 × 72 mm Orange/Gold Little Belt Bridge Hindsgavl dagger 2010 4 May 2010
DKK 200 obverse (2009) DKK 200 reverse (2009) 200 kroner 145 × 72 mm Green Knippelsbro Langstrup belt plate 2010 19 October 2010
DKK 500 obverse (2009) DKK 500 reverse (2009) 500 kroner 155 × 72 mm Blue Queen Alexandrine Bridge Keldby bronze pail 2011 15 February 2011
DKK 1000 obverse (2009) DKK 1000 reverse (2009) 1000 kroner 165 × 72 mm Red Great Belt Bridge Trundholm Sun Chariot 2011 24 May 2011
These images are to scale at 0.7 pixel per millimeter. For table standards, see the banknote specification table.

Nicknames

Within context, some of the banknotes have figurative meanings with the 100-krone note sometimes referred to as a hund (dog) shortening the word hundrede (a hundred). The 500-krone note can be referred to as a plovmand (ploughman) because previous circulations of the note featured a picture of a man with a plough and the 1000-krone note, too, can be referred to as a tudse (toad) taken from a wordplay on the word tusinde meaning a thousand. The 1000-krone note may also be referred to as an egern (squirrel) because the 1972 series version of the note featured a squirrel.

Exchange rates

Euro exchange rate to DKK
The cost of one Euro in Danish krone (from 1999).
Current DKK exchange rates
From Google Finance: AUD CAD CHF EUR GBP HKD JPY USD INR SEK NOK
From Yahoo! Finance: AUD CAD CHF EUR GBP HKD JPY USD INR SEK NOK
From XE: AUD CAD CHF EUR GBP HKD JPY USD INR SEK NOK
From OANDA: AUD CAD CHF EUR GBP HKD JPY USD INR SEK NOK
From fxtop.com: AUD CAD CHF EUR GBP HKD JPY USD INR SEK NOK

See also

Footnotes

  1. ^ Danish Inflation at Four-Decade Low After Economy Stagnates - Bloomberg
  2. ^ "Monetary and exchange-rate policy". www.nationalbanken.dk. Retrieved 13 June 2016.
  3. ^ a b c d e "History of Danish coinage". Denmarks Nationalbank. Archived from the original on 2012-07-30. Retrieved 12 April 2012.
  4. ^ Øre - Ordbog over det danske Sprog. Access date: 2 July 2012.
  5. ^ "Folkeafstemning om euroen den 28. september 2000" (in Danish). Folketinget. 8 August 2006. Retrieved 24 September 2012.
  6. ^ Gullbekk, Svein H. (2014), "Vestfold: A Monetary Perspective on the Viking Age", Early Medieval Monetary History: Studies in Memory of Mark Blackburn, Studies in Early Medieval Britain and Ireland, Farnham: Ashgate, p. 343
  7. ^ Brita Malmer, Nordiska mynt före år 1000 (1966). Jens Christian Moesgaard, Hvorfor er der så få enkeltfund af Harald Blåtands mønter? (2009).
  8. ^ Meyers Großes Konversations-Lexikon, vol. 11. Leipzig 1907, p. 732 (online verfügbar); accessed Oktober 29, 2013
  9. ^ "Global Financial Data". Global Financial Data. Archived from the original on 2007-09-29. Retrieved 2009-02-06.
  10. ^ Barsøe, Frederik (20 December 2016). "Today Ends a 1000 Year Old Tradition". bt.dk (in Danish). Berlingske Media. Retrieved 20 December 2016.
  11. ^ Fairy Tale coins
  12. ^ Polar coins
  13. ^ Portræt- og landskabsserien
  14. ^ Serie 1972
  15. ^ Serie 1997
  16. ^ www.banknotenews.com
  • Krause, Chester L.; Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed.). Krause Publications. ISBN 0873411501.
  • Pick, Albert (1994). Standard Catalog of World Paper Money: General Issues. Colin R. Bruce II and Neil Shafer (editors) (7th ed.). Krause Publications. ISBN 0-87341-207-9.
  • Pick, Albert (1990). Standard Catalog of World Paper Money: Specialized Issues. Colin R. Bruce II and Neil Shafer (editors) (6th ed.). Krause Publications. ISBN 0-87341-149-8.
  • Schön, Günter und Gerhard, Weltmünzkatalog 1900–2010, 39. Auflage, 2011, Battenberg Gietl Verlag, ISBN 978-3-86646-057-7

External links

April 9th (film)

April 9th (Danish: 9. april) is a 2015 Danish war film directed by Roni Ezra, and starring Pilou Asbæk and Lars Mikkelsen. The film depicts the German invasion of Denmark which commenced on 9 April 1940 and follows a Danish bicycle infantry company sent as a vanguard to slow down the German advance until reinforcements can arrive.

The film's budget was 22 million Danish krone (just over $3 million) and was supported by the Danish Film Institute, TV 2, and the Haderslev Municipality. The film was released in Danish cinemas on 12 March 2015.

Banknotes of Denmark, 1997 series

Danmarks Nationalbank issues banknotes of the Danish Krone (kr.) and has replaced the 1997 banknote series as of 24 May 2011.

The issue of the 1997 series commenced on 10 March 1997 with the debut of the 200 kr. denomination, issued to bridge the gap between the 100 kr. and 500 kr. denominations.

Commencing on 27 November 2002 the Nationalbank improved the security features for future banknotes of the 1997 series, starting with the 100 kr. denomination.

A new series of notes is currently being issued: Banknotes of Denmark, 2009 series. The first was the 50 kr. banknote on 11 August 2009.

Crown (currency)

The crown is a monetary unit (currency) used in the countries of Czech Republic, Denmark (including the territories of Faroe Islands and Greenland), Iceland, Norway and Sweden.

Currencies of the European Union

There are eleven currencies of the European Union as of 2018 used officially by member states. The euro accounts for the majority of the member states with the remainder operating independent monetary policies. Those European Union states that have adopted it are known as the eurozone and share the European Central Bank (ECB). The ECB and the national central banks of all EU countries, including those who operate an independent currency, are part of the European System of Central Banks.

Economy of the Faroe Islands

The economy of the Faroe Islands was the 166th largest in the world in 2014, having a nominal gross domestic product (GDP) of $2.613 billion per annum.High dependence on fishing means the economy remains extremely vulnerable. The Faroese hope to broaden their economic base by building new fish-processing plants. Petroleum found close to the Faroese area gives hope for deposits in the immediate area, which may lay the basis to sustained economic prosperity. Also important are the annual subsidy from Denmark, which amounts to about 3% of the GDP.The Faroes have one of the lowest unemployment rates in Europe, but this is not necessarily a sign of a recovering economy, as many young students move to Denmark and other countries once they are finished with high school. This leaves a largely middle-aged and elderly population that may lack the skills and knowledge to take IT positions in business and industry.

EliteForsk Prize

The EliteForsk Prize (Elite Research Prize) is the most prestigious award given by the Danish Council for Independent Research, of the Danish Ministry of Higher Education and Science. The award of 1.2 million Danish krone honors outstanding researchers of international acclaim, who are under 45 years of age, and is currently awarded to five individuals annually.

European Exchange Rate Mechanism

The European Exchange Rate Mechanism (ERM) was a system introduced by the European Economic Community on 13 March 1979, as part of the European Monetary System (EMS), to reduce exchange rate variability and achieve monetary stability in Europe, in preparation for Economic and Monetary Union and the introduction of a single currency, the euro, which took place on 1 January 1999.

After the adoption of the euro, policy changed to linking currencies of EU countries outside the eurozone to the euro (having the common currency as a central point). The goal was to improve the stability of those currencies, as well as to gain an evaluation mechanism for potential eurozone members. This mechanism is known as ERM II and has superseded ERM. Currently there is just one currency in the ERM II, the Danish krone.

Faroese króna

The króna (plural: krónur; sign: kr) is the currency of the Faroe Islands. It is issued by Danmarks Nationalbank (Danish National Bank), the central bank of Denmark. It is not an independent currency but a version of the Danish krone. Consequently, it does not have an ISO 4217 currency code and instead shares that of the Danish krone, DKK. The króna is subdivided into 100 oyru(r).

Fifty øre (Danish coin)

The fifty øre coin is the smallest-denomination coin of the Danish krone. Since the removal of the 25 øre coin in 2008, it has been the only Danish coin with a face value of under one krone.

Greenlandic krone

The Greenlandic krone (Greenlandic: koruuni, Danish: grønlandsk krone) was a planned currency for Greenland, plans of which were abandoned in 2009. The same name is often used for currency issued during Greenland's time as a Danish colony. The name krone is derived from the Danish krone, introduced in an 1873 currency reform that replaced Danish mark and skilling.

Currently, the Danish krone circulates in Greenland. The Greenland krone was not intended to be an independent currency but a version of the Danish krone. Consequently, it was not intended to have its own ISO 4217 currency code, but to use the same ISO 4217 code as the Danish krone, which is DKK. Even if the currency had been adopted, the (regular) Danish krone would have continued to circulate separately.

Icelandic króna

The krona (sometimes called Icelandic crown; sign: kr; code: ISK) is the currency of Iceland. Iceland is the second smallest country, after the Seychelles, to have its own currency and monetary policy.

Krona

Krona may refer to:

In monetary units, where krona and its variants mean crown:

Austro-Hungarian krone

Czech koruna

Czechoslovak koruna

Danish krone

Estonian kroon

Faroese króna

Icelandic króna

Norwegian krone

Slovak koruna

Swedish krona

Yugoslav kroneOther:

Krona (comics), alien villain in DC Comics

Charlotte Krona (born 1978), Swedish model and violinist

Krona, or Crona, character in Soul Eater (manga)

Krona space object recognition station, Russian military satellite detection station in Zelenchukskaya

Krona-N the second Krona satellite detection station, in Nakhodka

Krone (Danish coin)

The krone coin is the second-smallest denomination of the Danish krone.

List of currencies in Europe

There are 28 currencies currently used in the 50 countries of Europe, all of which are members of the United Nations, except Vatican City, which is an observer. All de facto present currencies in Europe, and an incomplete list of the preceding currency, are listed here.

A currency is a medium of exchange, such as money, banknotes, and coins. In Europe, the most commonly used currency is the euro (used by 25 countries); any country entering the European Union (EU) is expected to join the eurozone when they meet the five convergence criteria. Denmark is the only EU member which has been granted an exemption from using the euro, Sweden has also not adopted the Euro, although unlike Denmark, it has not formally opted out, instead, fails to meet the ERM II (Exchange Rate Mechanism) which results in the non-use of the Euro. For countries which hope to join the eurozone, there are five guidelines that need to be followed, grouped in the Maastricht criteria.The pound sterling, used by the United Kingdom, is rated at fourth on Investopedia's list of the top 8 most tradable currencies, saying that it is a "little bit more volatile than the euro". It was ranked just ahead of the Swiss franc, ranked fifth, which is used in Switzerland and Liechtenstein, saying that the set up of the Swiss banking "emphasizes the economic and financial stability policies dictated by the governing board of the SNB". Both are in the top 8 major currencies on Bloomberg. Several countries use currencies which translate as "crown": the Czech koruna, the Norwegian krone, the Danish krone, the Icelandic króna, and the Swedish krona.At present, the euro is legal tender in 19 out of 28 European Union member states, in addition to 5 countries not part of the EU (Monaco, San Marino, Vatican City, Andorra and Montenegro). Kosovo also uses the euro, but is only partially recognised as an independent state.

Odense Letbane

Odense Letbane (Odense Tramway) is a planned tram system in Odense, Denmark. The first phase is scheduled to open in 2020. The tramway will start in Tarup in the north-western part of Odense, travel via the central train station, University of Southern Denmark, and the new hospital reaching its final destination in Hjallese in the southernmost part of town. The first line will consist of 14.5 kilometres (9.0 mi) of tracks and will have 26 stations. Expected number of passengers is 34,000 daily. The total budget is 3.3 billion Danish krone (2017 numbers). The tramway is financed by the Odense Municipality, the Danish State, and the Region of Southern Denmark. The planned second line consists of 7.5 kilometres (4.7 mi) of tracks with a budget of 1.9 billion Danish krone. The City Council has decided to work towards establishing a second line. However, there is no construction regulation or co-financing from the Danish state at the moment (August 2018).

Siissisoq

Siissisoq is a Greenlandic heavy metal band, formed in 1994 in Uummannaq. They released their first album, Aammarpassuillu Ulo 141, in 1998, and it stayed number one on Greenlandic charts for two months. The name Siissisoq means Rhino in Greenlandic.

The band's lyrics are sung in Greenlandic and their songs are mainly named after African animals. In 2001, the band released a live album called Aammarlussuillu Live Ulo 156.

Super Day Siissisoq Music 001 released in 2002 and it was not successful as the first album, because of its poor mixing and production. The band have agreed that they will stop playing together for a while in a hiatus.

Vocalist Knud Mathiassen traveled to Svendborg in 2003 and began to play together with other members of Siissisoq. They came back to Karl Enok continues to write more songs until they had the opportunity to perform again on stage to make a comeback in 2010 Nuuk Festival and Nipiaa Rock Festival in Aasiaat, it was hugely successful.

The group started in 1991 in the hometown of Uummannaq. Guitarist Karl Enok Mathiassen started making guitar riffs where he was inspired by Metallica and White Zombie. Mathiassen often thought to start a band, and asked guitarist Jens Thorin if he wanted to join. Siissisoq began writing together in the summer of 1994.

Karl Enok Mathiassen had written Nersussuaq, Puuluki, Imarmiutarsuaq, Pulateriaarsuk, Zebra, Qeerlatooq at 15 years old. It was hugely successful in their first debut album Aammarpassuillu Ulo 141.

Mathiassen stopped in 2002 because of fraud and manipulation in ULO record company where they were given only 3-4% of their income from their work. ULO has earned around at least 700,000.00 Danish Krone out of 850,000.00 Danish Krone. ULO continues to claim that there was not enough of a profit to give Siissisoq money.

Today Karl Enok Mathiassen has his own Studio Record label and radio station company.

Snake in the tunnel

The snake in the tunnel was the first attempt at European monetary cooperation in the 1970s, aiming at limiting fluctuations between different European currencies. It was an attempt at creating a single currency band for the European Economic Community (EEC), essentially pegging all the EEC currencies to one another.

Pierre Werner presented a report on economic and monetary union to the EEC on 8 October 1970. The first of three recommended steps involved the coordination of economic policies and a reduction in fluctuations between European currencies.With the failure of the Bretton Woods system with the Nixon shock in 1971, the Smithsonian agreement set bands of ±2.25% for currencies to move relative to their central rate against the US dollar. This provided a tunnel within which European currencies could trade. However, it implied much larger bands in which they could move against each other: for example if currency A started at the bottom of its band it could appreciate by 4.5% against the dollar, while if currency B started at the top of its band it could depreciate by 4.5% against the dollar.If both happened simultaneously, then currency A would appreciate by 9% against currency B. This was seen as excessive, and the Basel agreement in 1972 between the six existing EEC members and three about to join established a snake in the tunnel with bilateral margins between their currencies limited to 2.25%, implying a maximum change between any two currencies of 4.5%, and with all the currencies tending to move together against the dollar. This agreement also led to the formal end of the Sterling Area.

The tunnel collapsed in 1973 when the US dollar floated freely. The snake proved unsustainable, with several currencies leaving and in some cases rejoining. By 1977, it had become a Deutsche Mark zone with just the Belgian and Luxembourg franc, the Dutch guilder and the Danish krone tracking it. The Werner plan was abandoned.The European Monetary System followed the "snake" as a system for monetary coordination in the EEC.

Tuvaluan dollar

The dollar is the currency of Tuvalu. From 1966 to 1976, Tuvalu officially used the Australian dollar. In 1976, Tuvalu began issuing its own coins for circulation, although these circulate alongside Australian coins and Tuvalu continues to use Australian banknotes. Similar to the Faroese króna's relationship to the Danish krone and the Panamanian balboa's relationship to the United States dollar, the Tuvaluan dollar is not an independent currency, but a variation of the Australian dollar. The official international currency code is TVD.There is no central monetary institution or central bank in Tuvalu. The National Bank of Tuvalu performs some monetary functions for the government of Tuvalu including the holding of government accounts and foreign assets.Other currencies used in Tuvalu have been the Pound Sterling, prior to the introduction of the Australian dollar, as well as the US dollar, during the World War II American occupation of the islands. Gilbert and Ellice Islands banknotes have also been used on in Tuvalu, These notes were cashier's cheques backed in Pounds rather than an official, independent currency. The yen-backed Oceania pound was used in parts of the Gilberts (now Kiribati), but Japanese influence never actually reached the Ellice Chain (now Tuvalu).

Twenty-five øre (Danish coin)

The twenty-five øre coin was a coin of the Danish krone. It was the lowest-denomination coin in the country when it was demonetised on 1 October 2008.

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