USDDKK Live Chart, Exchange Rate & Analysis | Trade USDDKK

Interesting facts about the USDDKK (US Dollar to Danish Krone)

The Danish krone is the official currency of the Kingdom of Denmark, as well as Greenland and the Faroe Islands. One krone is equal to 100 ore. The design of the banknotes is based on Danish bridges on the front side and archeological finds in Denmark on the rear.

According to historians, monetary circulation in Denmark can be dated to the beginning of the 11th century, when the first silver coins were minted under King Canute the Great in the city of Lund. Since then, a tradition has developed according to which the monogram or portrait of the current monarch is depicted on coins to this day.

The Danish krone became the main monetary unit after the reform of 1875. Then a rigid gold standard was introduced, according to which 2,480 DKK were equal to 1 kg of pure precious metal. During this period, Denmark was a part of the Scandinavian Monetary Union. It collapsed in 1914, and the countries introduced their own currencies, but by 1924 Denmark had returned to the gold standard and stuck to it until 1933.

Initially, DKK was fixed to the British pound at a price of 24. However, the krone then strengthened to 19.34 per pound or 4.8 per US dollar.

The US is Denmark's largest trading partner outside of Europe. The USD/DKK rate depends upon Danish exports of industrial and chemical products, canned ham and pork, and Lego toys. The USD/DKK currency pair has a rich and interesting history of trading on the foreign exchange market. If we analyze the long-term chart, it becomes clear that the dynamics and behavior of the pair in different periods change greatly.

The USD/DKK pair is an exotic Forex tool, popular mainly among local Scandinavian traders from Denmark. The best time to trade USD/DKK is from 15:00 to 19:00 (GMT+3, indicated in LiteFinance trading platform) when European and American trading sessions overlap.