Danish Krone

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. 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". 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.

IMF Special Drawing Rights

IMF Special Drawing Rights

Special drawing rights (ISO 4217 currency code XDR, also abbreviated SDR) are supplementary foreign-exchange reserve assets defined and maintained by the International Monetary Fund (IMF). The XDR is the unit of account for the IMF, and is not a currency per se. XDRs instead represent a claim to currency held by IMF member countries for which they may be exchanged. The XDR was created in 1969 to supplement a shortfall of preferred foreign-exchange reserve assets, namely gold and the U.S. dollar.XDRs are allocated to countries by the IMF. Private parties do not hold or use them. The amount of XDRs in existence was around XDR 21.4 billion in August 2009. During the global financial crisis of 2009, an additional XDR 182.6 billion were allocated to "provide liquidity to the global economic system and supplement member countries’ official reserves". By October 2014, the amount of XDRs in existence was XDR 204 billion.The value of the XDR is based on a basket of key international currencies reviewed by IMF every five years. The weights assigned to each currency in the XDR basket are adjusted to take into account their current prominence in terms of international trade and national foreign exchange reserves. In the review conducted in November 2015, the IMF decided that the Renminbi (Chinese yuan) would be added to the basket effective October 1, 2016. From that date, the XDR basket now consists of the following five currencies: U.S. dollar 41.73%, Euro 30.93%, Renminbi (Chinese yuan) 10.92%, Japanese yen 8.33%, British pound 8.09%.

9 Danish Krone to IMF Special Drawing Rights exchange rates chart

9 DKK to XDR exchange rates graph
9 DKK to XDR Spot rate – This is known more formally as the ‘interbank’ rate. It is the rate banks or large financial institutions charge each other when trading significant amounts of foreign currency. In the business, this is sometimes referred to as a ‘spot rate’. It is not the tourist rate and you cannot buy currency at this rate, as you are buying relatively small amounts of foreign currency. In everyday life it is the same as the difference between wholesale and retail prices. The rates shown in financial newspapers and in broadcast media are usually the interbank rates.

9 DKK to XDR exchange rates table

Exchange DKK to XDR
9 Danish Krone = 0.986 IMF Special Drawing Rights
18 Danish Krone = 1.972 IMF Special Drawing Rights
45 Danish Krone = 4.931 IMF Special Drawing Rights
90 Danish Krone = 9.862 IMF Special Drawing Rights
Exchange Danish Krone to IMF Special Drawing Rights
9 Danish Krone to IMF Special Drawing Rights Cross rate – This is the rate we give to customers who want to exchange currencies that do not involve the local currency. For example, if you want to exchange Australian dollars into US dollars.

9 DKK to XDR exchange rates news

USD down; Euro, Pound, Yen up

Uniindia: Mumbai, Nov 06 (UNI) Following were the indicative currency<br />rates and travellers'' cheques buying and selling rates per<br />unit.

indicative neutral
Major curriencies down

Uniindia: Mumbai, Nov 13 (UNI) Following were the indicative currency rates and travellers'' cheques buying and selling rates per unit.

indicative neutral
Gold Revaluation, Stronger Rupee Lift India’s Forex Reserves: Analysts
Gold Revaluation, Stronger Rupee Lift India’s Forex Reserves: Analysts

Revaluation of gold reserves and a stronger rupee lifted India’s foreign exchange (forex) reserves by over $1 billion in the week ended November 2, analysts

conditional neutral
After weeks of fall, forex kitty jumps by over USD 1 bn to USD 393.13 bn - Times of India

India Business News: Mumbai, Nov 9 () After multiple weeks of decline, the country's foreign exchange reserves swelled by USD 1.054 billion to USD 393.132 billion in the w

indicative neutral
RMB exchange rate reform market-oriented - USA - Chinadaily.com.cn

RMB exchange rate formation mechanism reform is a significant part of deepening reform. At the beginning of reform and opening-up China adopted unified exchange rate system. From 1981 to 1984 China adopted dual exchange rate system of official exchange rate and foreign exchange internal settlement price, and from 1985 to 1993 China adopted dual exchange rate of official exchange rate and foreign exchange swap price. The exchange rate system by that time was in accordance with China's opening-up and the market mechanism reform process at the same time.

indicative positive

9 DKK to XDR currency converter