As Denmark is not included in the Euro-monetary system, it circulates its own currency called Danish Kroner (DKK). There are five types of banknote denominations: 50, 100, 200, 500 and 1000 DKK. One Danish Kroner is divided into 100 øre.
When shopping, regardless of the store, restaurant or hotel, you will be charged 25% VAT besides the actual price.
This was the most basic information you have to know before traveling to Denmark but as the big part of your vacation depends on financial means, you should also know the details of money-system in Denmark. If you think twice and plan wise, you can save a lot on unnecessary things.
Shopping Around: Cash
Although the official Denmark currency is the Danish Kroner, you can still make purchases with Euro. This will depend on the stores you go, some of them will accept the payment and even give your change in Euro, others will take only Kroner. However, most of the stores display price-tags in both Kroner and Euro.
This will give you some idea what currency the store accepts. Some stores in major cities like Copenhagen accept Dollar as well. Meanwhile, it will be less time-consuming and tiring if you keep your cash money in Kroner. In addition to that, shopping with Euro can be expensive due to unstable exchange rates.
As exchange rates change day by day, it’s safer to check the rates with online currency converter websites or, even better, go to a bank or its website (the most reliable source would be the National Bank of Denmark). Generally speaking, 1 Euro equals to 7,45 Kroner, while 1 Dollar is even less, 5,00 Kroner. Please note that these rates change every day.
Exchanging your currency at the bank will cost you less than at exchange kiosks. If you prefer to deal with banks, remember that Danish banks are closed on Saturdays and Sundays, while on weekdays they are open from 09:00 am to 17.00 pm. Make sure not to carry large banknotes, as there is a possibility banks will refuse to exchange it. Some exchange offices are open until midnight.
In order to avoid confusion and regret, exchange your currency even before you leave for Denmark. This way you won’t have problems with finding accommodation and meals, as these are the most important conditions a tourist will have when arriving in a foreign country.
Shopping Around: Credit cards
Traveling to Denmark with your money only on your credit card can be tricky. First, you need to check if your card will be accepted by the Danish ATMs.
The most commonly used credit cards are VISA, MasterCard and American Express. Even in case of the mentioned three types of credit cards, you will very often need your PIN code to shop with your card. Make sure to know it or have it with you, otherwise your signature won’t be enough.
If you prefer to carry credit cards with you instead of cash because you’re afraid of being robbed, then you should know that if you are careful with your belongings, chances are very low someone would want to steal your money.
On the other hand, if you want to be sure you won’t lose your money, it’s much more convenient to keep it on the credit card. Keep in mind that there might be small shops in small towns and villages (if you plan to travel all over the country), where your card might not be accepted. This is why it’s very important to keep at least some decent amount of cash, as you’ll never know when and where you will need your money.
It has already been mentioned that prices in Denmark are really high but we would also like to provide some specifics to give you an average idea of how much you should take with you.
- Beer (domestic/imported) – 10 – 15 DKK
- Beer at a restaurant – 40-45 DKK
- Coke – 21.85 DKK
- Bread – 16.74 DKK
- Water (1.5 liter) – 11.80 DKK
- Cigarettes – 36.53 DKK
- Taxi (1 km/0.6 miles) – 11.57 DKK
- Danish Currency – Kroner (DKK)
- Banknotes – 50, 100, 200, 500, 1000 DKK
- 1 Euro – 7,45 DKK
- 1 Dollar – 5,00 DKK
- Value Added Tax (TAX) – 25%
- Meal at a Restaurant – 200-350 DKK (approximately)
- Banks open – on weekdays from 09:00 am to 17.00 pm
- Banks closed – on Saturday and Sunday
- Credit cards – VISA, MasterCard, American Express