DKK - Danish Krone

Currency in Denmark first came into existence in 1625 with the introduction of the Danish Rigsdaler. The Rigsdaler was a complicated currency, using three subunits: the mark, skilling, and pfenning. The system lacked decimalization and continued to be used until the creation of Scandinavian Monetary Union in 1873. The Union obligated Denmark, Norway, and Sweden to fix their respective currencies against gold, at par with one another, to create monetary stability.

In 1875, the Danish Krone was introduced as Denmark's official legal tender. The Scandinavian Monetary Union dissolved in 1914, when the gold standard was abandoned globally. Denmark kept the Krone currency and attempted to fix it to the gold standard again in 1924, but permanently left it in 1931. The Krone underwent another change when it was pegged to the German Reichsmark during the German occupation from 1940-1945. It was re-pegged to the British Pound and US Dollar following the end of the war.

Danish Krone and the euro
As a part of the European Union, Denmark was originally going to adopt the euro. However, when the euro was launched in 1999, Denmark opted out through the Edinburgh Agreement. In 2000, a referendum was held to decide whether or not the euro would be introduced. 53.2% of the population was opposed to adopting the euro. The Danish Krone remains connected by the Exchange Rate Mechanism II (ERM II) with an exchange rate tied within 2.25% of the euro.