Denmark Economic Information
Central Bank: National Bank of Denmark
Currency: Danish krone (DKK or kr)
The krone (kroner, plural) is known to many as a stable currency, representing a stable Danish economy. The economy capably meets the EU's (European Union) criteria to adopt the euro. Although Denmark opts to keep the krone, its value remains pegged to the euro.
Key industries:
Iron, steel, nonferrous metals, chemicals, food processing, machinery and transportation equipment, textiles and clothing, electronics, construction, furniture and other wood products, shipbuilding and refurbishment, windmills, pharmaceuticals and medical equipment.
Agricultural products:
Barley, wheat, potatoes, sugar beets, pork, dairy products and fish.
Export commodities:
Machinery and instruments, meat and meat products, dairy products, fish, pharmaceuticals, furniture and windmills.
Import commodities:
Machinery and equipment, raw materials and semimanufactures for industry, chemicals, grain and foodstuffs and consumer goods.
Historical foreign currency exchange rates
 Downward Trend |
 Upward Trend |
| Source: These exchange rates are interbank rates as published by Interactive Data as of 11/15/2009. These rates were not available to retail customers and were not the rates offered by EverBank®. Past performance does not guarantee future results. |
A few factors to consider when evaluating the Danish krone:
Reasons to consider
- Denmark is a founder member of NATO.
- Denmark's trade to other countries, such as the US, has increased and China is becoming a more important source of imports.
- The council for Technology and Innovation is spending 3 Billion Danish Krone between 2007-2010. "InnovationDenmark" contains initiatives centered on innovation processes, the employment of highly educated personnel and the effective use of knowledge.
Risk factors to consider
- The global financial crisis has had an economic impact on Denmark.
- The government has pledged to raise public investment amid a deteriorating budget deficit and debt position.
- The Central Bank of Denmark issued an additional interest rate cut in early May.
- Retail sales contracted in the 1st Q, 2009.
How EverBank can help with your Danish krone needs?
WorldCurrency® CDs (Single-currency CDs): Earn interest rates at local rates in the currency of your choice.
WorldCurrency Index CDs (Multi-currency CDs): Open a single CD comprised of multiple currencies, each designed to focus on a specific regional strength, and/or geopolitical and economic development. This currency is available in the following Index CD(s):
WorldCurrency Access Deposit Account: Open a transactional money market account in the currency of your choice.
I'm interested in opening a WorldCurrency account, what is my next step?
Please note: Not all investments are right for all investors. You should conduct your own research and/or consult with an investment advisor before making any investment.
- Before opening a WorldCurrency® account, we recommend reading the following pages:
- If you are ready to open your WorldCurrency account, apply online or call 800.926.4922 for more information.
- For your protection, we require that you sign and mail your application along with a deposit.
-
- EverBank, the EverBank Infinity Sphere and the EverBank logo, along with WorldCurrency are proprietary service marks of EverBank. All rights reserved.
