DKK Danish Krone Foreign exchange transactions

Denmark

DKK - Danish Krone

Convertible: Yes - Transferable: Yes - Exchange rate regime: Floating

Click here to see all the currency pairs offered by iBanFirst

FX SPOT	FX FORWARD
Delivery date: T; T+1; T+2	Maximum maturity: 24 months
Liquidity: Good	Liquidity: Good

The Denmark Nationalbank (DNB) is the central bank of Denmark. Its objective is to ensure non-inflationary growth of the country’s economy.
Price setting method: the exchange rate is defined as fixed against the Euro. The DNB must therefore maintain the stability of the Danish Krone in relation to the single currency. To achieve this, it uses two levers at its disposal: monetary policy and targeted interventions in the foreign exchange market.

Although Denmark has not adopted the Euro, it is a member of the European System of Central Banks (ESCB) and uses the same payment practices as in the EU.
The EUR/DKK exchange rate is set at 7,4600 and must remain within a fluctuation band of ± 2.25%.

There are no special restrictions on the purchase and sale of DKK.

Expert opinion

Due to the stability of the DKK against the EUR, market participants tend to hedge little on their EUR/DKK foreign exchange transactions.

The IBAN format is mandatory. Payment instructions must contain the full name of the beneficiary.

Public Holidays 2018 (subject to change)
New Year’s Day	1 January	Ascension Day	10 May
Holy Thursday	29 March	Day After Ascension	11 May
Good Friday	30 March	Whitmonday	21 May
Easter Monday	2 April	Constitution Day	5 June
General Prayer Day	27 April	Christmas Day	25 December

Source: http://www.nationalbanken.dk/

Central Bank of Denmark OECD