Danish Krone(redirected from Krone (Danish currency))
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The currency of Denmark. It was introduced in 1873, replacing the Danish rigsdaler. It was part of the Scandinavian Monetary Union until the beginning of World War I. During this time, the krone was pegged to gold. It was variously pegged to the German Reichsmark and the British pound in the middle 20th century. Denmark later joined the Bretton Woods Agreement, which tied the krone to the U.S. dollar (and, by extension, to gold). It is currently pegged to the ERM II, which ties the krone to the euro but allows it to remain somewhat independent.