DKK

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DEFINITION of 'DKK'

The currency code for the Danish krone ("crown"), the official currency for the country of Denmark as well as the provinces of Greenland and the Faroe Islands. The Danish krone (DKK) was made the formal currency of Denmark in 1873, replacing the former Danish rigsdaler, and was tied to the gold standard.

INVESTOPEDIA EXPLAINS 'DKK'

Denmark created the krone currency as part of the dissolution of the country's participation in the Scandinavian Monetary Union with Sweden and Norway. The union dissolved in 1914, along with the gold standard, and the three participating countries chose to keep their own individual currencies. The krone was pegged to the German mark briefly, then to the British pound and later again to the German mark. Today the krone is tied to the euro.

The currency market, also known as the foreign exchange market, is the largest financial market in the world.

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