How much do you know about the ideal currencies for the most cashless country globally?
Do you have the answers to the right questions to ask about money and currency before traveling there?
For instance, can you use Danish Krone in Sweden?
Interestingly, you can’t use Danish Krone in Sweden unless you pay in a few select places.
That comes as a surprise to many since both Denmark and Sweden are a part of Scandinavia.
Other countries are part of it, including Iceland, Finland, and Norway.
Despite that, each country uses a different currency.
That’s regardless of some of their currencies sharing a name and currency.
Learn more about the currency story of Sweden and Denmark and much more by reading on.
What Should You Know About the Currency in Denmark?
The most obvious thing is that Denmark’s currency is the Danish Krona, usually abbreviated as DKK.
On the other hand, its symbol is kr, equivalent to 100 ores.
Its notes are in various denominations comprising kr 50, 100, 200, 500 and 1000.
Equally important, Danish coins comprise various denominations of kr 50, 20, 10, 5, 2, and 1.
Besides Denmark, the DKK currency is also used in Greenland.
Before the Scandinavian Monetary Union, the currency in this country was the Danish rigsdaler.
The Danish government assigns the Danish Krone its value, and all the minting also happens in Denmark.
Why Do People Assume that One Can Use the Danish Krone in Sweden?
The most confusing thing about the currencies of Denmark and Sweden is that they are referred to as Krone.
Equally important, the symbol of both currencies is kr, equivalent to 100 ores.
Regardless, one is a Swedish Krona, whereas the other is a Danish Krone, and that’s just the beginning of the differences between the two currencies.
However, it would be great to look at the history of these currencies since it is another reason people assume one can use them interchangeably.
In 1873, Denmark and Sweden developed the Scandinavian Monetary Union.
It saw the two countries merge their currencies into the krona.
In 1875, Norway joined the club using the krona, which had the same monetary value across the member states.
Whereas each country had its central bank, it was generally one big Reserve Bank.
However, all three countries were responsible for minting their coins.
That said, World War I led to the disbandment of the Scandinavian Monetary Union and the abandonment of their gold standard.
Nevertheless, the currency remained intact, although the value of the three currencies changed, which is still the case.
Consequently, using the Danish, Norwegian, or Swedish krona interchangeably is no longer possible.
What is the Best Currency to use in Sweden?
The best currency in Sweden is the krona, also commonly referred to as the Swedish crown.
That’s because krona is the Swedish name for crown.
So, anyone visiting Sweden should arrange to have krona with them for smooth transactions.
Don’t expect to see more coins since they are no longer helpful.
However, that doesn’t change the fact that 1 Swedish krona equals 100 ore.
Can I Use Euros in Denmark and Sweden?
Denmark and Sweden are among the countries in the European Union that don’t use euros.
In other words, finding a place in these countries accepting payment in euros might be hard, if not impossible.
Other countries that don’t use euros despite being part of the EU are Romania, Poland, the Czech Republic, Hungary, Croatia, and Bulgaria.
Despite Sweden not using euros, you can use this currency in the following places;
Upon entering a currency exchange kiosk, you can exchange your euros for Swedish krona.
The kiosks will also work with other currencies, including the Danish krona.
The exchange rates are usually reasonable, and these exchange rates are often in arrival terminals and banks.
All cash machines dispense Swedish Krone, but others also dispense foreign currency.
Common options include the Norwegian Krone, Danish Krone, US dollars, and British pounds.
It is a town where one can pay for a taxi using euros.
The same applies to most of its tourist-oriented shops.
However, it is worth noting that its municipality has no official policy.
You can pay your bills and rent using euros in Hoganas.
Euros are also acceptable in shops, restaurants, and deposits in local banks.
Whereas most ATMs in Sweden dispense foreign currency at an additional charge, that’s not the case in this area.
It doesn’t come as a surprise, given the proximity of Haparanda to the eurozone.
Most of its stores display prices in euros and accept payments in this currency.
Despite the efforts by some of its municipalities to adopt the euro as an official currency, tax laws have frustrated the adoption up to date.
Even Haparanda’s budget is usually in both euros and Swedish krona currencies.
Other places that accept euros in Sweden are Malmo, Landskrona, and Helsingborg.
Besides euros, they also accept Danish Krone, and tourist-oriented shops usually display their products’ prices in euros.
These places also accept euros in hotels, fast food chains, and petrol stations.
What Currencies Are Accepted in Sweden?
The most acceptable currency in Sweden is the Swedish Krona.
However, if you can’t get hold of the krona, especially if you are a tourist, the best alternatives are the Pounds or GBP, Euros or EUR or US dollars or USD.
It is advisable to exchange these currencies for the Swedish Krone for convenience since it is the most accepted currency in the country.
Do Denmark, Sweden, and Norway Use the Same Currency?
One can’t insist enough that Denmark, Sweden, and Norway don’t use the same currency.
The name and symbol may be the same, but the values are different.
Besides, each country now mints its currency and assigns its value.
The Scandinavian Monetary Union is long gone since it didn’t survive after World War I.
Therefore, nothing binds the three countries to have a gold standard.
These countries may have retained the term Krone, but that’s all these currencies have in common.