Greenland is the second most sparsely populated country, but the largest island on earth. It does not belong to the European Union. The capital of Greenland is Nuuk and the people here speak Danish. The means of payment in Greenland is called the Danish Krone. The ISO code, an official currency code, is given as DKK. It is also abbreviated with the abbreviations DKR or KR.
The currency is divided into coins and banknotes.
The coins are divided into 6 different values. 50 ore is the smallest unit with the lowest value. Then there are 1, 2, 5, 10 and 20 crowns. 50 ore are bronze, 1-5 crowns silver and 10-20 crowns gold.
But all these coins have one thing in common. The recognition value is once. There is a hole in the middle of the coin. Regarding the coins, it should also be mentioned that there are also special coins and commemorative coins. Coins with the Danish royal family are highly sought after by collectors.
The banknotes
The banknotes in Greenland are divided into 5 different values. There are currently 50, 100, 200, 500 and 1000 crowns in circulation. New security features were added in 2008 to stop the counterfeiters. Holograms, watermarks, deep printing etc. The most counterfeit Danish krone is the 500 krone note.
Change currency – more about the exchange rate
Monetary policy in Greenland wants the krona, in contrast to the euro, keep stable. Price stability ensures low inflation. There is a minimum fluctuation range between the euro and the Danish krone. Thus, the Danish krone is tied to the euro.
In general, you want to tie the krona to the euro, especially since it then receives protection from piquant currency transactions. However, the krona is not protected from the effects of exchange rates against non-EU currencies such as the US dollar.
You can of course also make cashless payments in Greenland. Most ATMs for this purpose are located in buildings such as a bank or post office.