Denmark

DKK - Danish Krone
Convertible: Yes - Transferable: Yes - Exchange rate regime: floating
Denmark

Type of transactions

FX SPOT FX FORWARD
Delivery date : J+1; J+2 Maximum maturity: 12 months
Liquidity: Good Liquidity: Good

EUR/DKK parity: liquidity schedules

EUR/DKK parity: liquidity schedules

Did you know?

Monetary Policy

 

  • The Denmark Nationalbank (DNB) is the central bank of the country: its function is to ensure non-inflationary growth of the kingdom's economy.
  • Price setting method: The exchange rate is defined as fixed against the euro. The DNB must thus maintain the stability of the Danish krone vis-à-vis the single currency. To achieve this, it uses two levers at its disposal: monetary policy and targeted interventions on the foreign exchange market.

Particularités et faits marquants

 

  • 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 euro area.
  • The EUR / DKK exchange rate is set at 7,4600 and must remain within a fluctuation band of ± 2.25%.

Regulations

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.

Payments in DKK to Denmark

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

Holidays 2018 (subject to modifications)
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