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Historical snapshots

650 B.C.

995

First Danish coins

1000

First banknotes

1020

The first Danish coinage

1397

Reestablishment of the coinage after inferior metal value

1541

Gammel Mønt and Møntergade

1713

First Danish banknotes

1736

The Kurant Bank – Denmark's first bank

1757

Kurant banknotes no longer exchangeable

1791

The Species Bank

1807

1810

First savings bank

1813

The monetary reform known as the bankruptcy of the state

1818

Nationalbanken i Kjøbenhavn

1829

First Danish commercial bank

1830

Development of the credit market

1837

Danmarks Nationalbank's branch in Århus

1844

Danmarks Nationalbank's branch in Flensborg

1845

The silver standard

1856

The discount rate becomes a monetary-policy instrument

1857

New banks and savings banks established

1860

Note printing transferred to the Thiele company

1875

From rigsdaler to kroner

1875

Scandinavian Currency Union

1875

From silver standard to gold standard

1881

Branch in Ålborg

1882

Branch in Nykøbing Falster

1895

1901

Branches in Odense and Kolding

1904

The Danish-West Indian Nationalbank

1907

Extension of the legal basis for Danmarks Nationalbank

1908

1914

Danmarks Nationalbank becomes the sole banker to the central government

1914

Suspension of the gold encashment obligation

1918

Danmarks Nationalbank takes over the printing of banknotes

1922

Collapse of Landmandsbanken

1924

Reintroduction of the gold standard

1927

Cheques become more prevalent

1931

Final break with the gold standard

1932

The Currency Clearing Centre

1933

The Kanslergade agreement – devaluation of the krone

1936

Danmarks Nationalbank Act

1939

Danmarks Nationalbank's gold sent to the USA

1940

German clearing account

1942

Revaluation of the krone

1944

The International Monetary Fund and the Bretton Woods system

1945

The substitution of money

1949

Devaluation of the krone

1949

Faroese get their own banknotes

1958

The krone becomes convertible

1967

Private customers are phased out

1971

Collapse of the Bretton Woods system

1972

'The Currency Snake'

1972

1-øre and 2-øre coins taken out of circulation

1975

The Royal Mint is transferred to Danmarks Nationalbank

1979

The European Monetary System (EMS)

1982

Fixed krone exchange rate

1983

Establishment of the Danish Securities Centre

1983

Introduction of the Dankort

1988

The last currency restrictions are lifted

1989

Coin reform – 5-øre and 10-øre coins taken out of circulation

1989

Discontinuation of Danmarks Nationalbank's last remaining branches

1992

The Maastricht Treaty and Economic and Monetary Union

1993

Collapse of the EMS

1994

Establishment of the European Monetary Institute

1999

Introduction of the euro

1999

ERM II takes effect

2000

Danish euro referendum

2002

Euro banknotes and coins introduced

2008

Roskilde Bank acquired by Danmarks Nationalbank and the Danish Contingency Association

2008

The financial crisis – collapse of US investment bank Lehman Brothers

2008

The 25-øre coin abolished

2009

New banknote series

More information

Governors in period 1907-


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