GBPDKK Live Chart, Exchange Rate & Analysis | Trade GBPDKK

Interesting facts about the GBPDKK (British Pound to Danish Krone)

Aside from Denmark, the Danish krone is an official currency in Greenland and the Faroe Islands. The domestic currency is printed by Denmark's National bank. The krone first appeared in 1873. Before that, the Danish rigsdaler was the official currency. To smooth currency fluctuations, the country joined an agreement with the European Central Bank to peg the Danish krone to the euro. Before being tied to the euro, the domestic currency of Denmark was pegged to several other assets. The country tried to peg the currency to gold but abandoned this in 1931. During the period of German occupation in World War II, the krone was pegged to the German Reichsmark. Later, the currency was tied to the British pound.

The British pound is the world's oldest currency still in use. It makes it one of the most popular currencies around the world, which is accepted or can be exchanged in almost every country. However, the British pound couldn't become a safe-haven asset. Its price suffers significant volatility. This doesn't allow investors to keep their funds in GBP in times of market uncertainty. The currency's name derives from the Latin word Libra. Libra means balance or weight. The symbol of the currency "£" relates to Libra. It originates from the upper case Latin letter L. However, the symbol is not used for all pounds. For example, the Lebanon pound and the Egyptian pound aren't marked with "£".

A good time to trade GBP to DKK is the UK trading session that lasts from 10:00 to 19:00 (GMT+3, indicated in LiteFinance trading platform). The GBP/DKK rate is highly volatile as the pair is exotic and traded very rarely. Trading during the UK session allows catching periods when the price moves within narrow ranges.