FOREX Report: Danish Krone DKK

Denmark Economic Information

Central Bank: National Bank of Denmark

The National Bank of Denmark has been lowering its lending rate since March 2009, it is currently at 1.05%.

change date percentage

january 14 2010 1.050 %
january 07 2010 1.150 %
december 10 2009 1.200 %
september 24 2009 1.250 %
august 28 2009 1.350 %
august 14 2009 1.450 %
june 08 2009 1.550 %
may 11 2009 1.650 %
april 03 2009 2.000 %
march 06 2009 2.250 %

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 Indicators Data Period As of

Consumer Price 0.01% YoY 12/09

Index (CPI)

Gross Domestic (3.40)% YoY 02/10

Product (GDP)

Current Account (.19B) JAN 03/10

Balance (BoP)

Official Foreign 75.8B na 01/10

Reserves

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.

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.

Reference

National Bank of Denmark

Global Rates
Everbank