EURDKK is an exotic-cross currency pair consisting of the euro (EUR) and the Danish krone (DKK). It shows how many Danish kroner are needed to buy one euro. Although not as popular as major and minor currency pairs, traders choose to trade EURDKK because Denmark's and the Eurozone's economies are highly stable and predictable.

What is EURDKK?

The EURDKK represents the exchange rate between the Euro which is the currency of EU countries and the Danish Krone, i.e., the currency of Denmark. It means that EURDKK represents the number of DKKs required to buy one EURO. Suppose the exchange rate value is 7.532, traders must have 7.532 DKKs to buy one EURO.

Moreover, the underlying countries of both currencies are heavily reliant on exports. For instance, the Eurozone exports manufactured goods such as automobiles, machinery, and chemicals. On the other hand, Denmark exports renewable energy, machinery, and pharmaceuticals. If the export is hindered for any reason, it directly affects both economies, leading to fluctuations in the exchange rate. Investors who want to learn how to trade EURDKK can analyze this currency pair on SimpleFX platform with a demo account

How does EURDKK work?

It works through trading in the forex market on online platforms like SimpleFX. It provides solutions such as a demo account, which enables traders eager to learn how to invest in EURDKK start without risking their real assets.

The EURDKK is a minor currency pair with relatively low trading volume and liquidity compared to other major currency pairs. Moreover, it is influenced by various factors and correlates with other pairs as well. These are correlation with other currency pairs, monetary policy decisions, economic data, and many more.

EURDKK price history

Considering the historical performance of a currency pair is equally important as predicting its future value before investing. That’s why we’ve highlighted the past five years’ performance of the currency pair:

2018

At the start of the year, the EURDKK exchange rate was 7.4446, and at the year's end, it was at 7.4825 DKK, the year's best exchange rate. The worst value was 7.4408 DKK on 10th February 2018, and the year's average was 7.4546 DKK.

2019

On 1st January 2019, the exchange rate of the year was 7.4659 DKK, and at the year's end, it was 7.4792 DKK. The best and the worst EURDKK values were 7.5314 DKK on 6th September 2019 and 7.4551 DKK on 20th August 2019, respectively. The average value for the year was 7.4681 DKK.

2020

The year started with the EURDKK exchange rate at 7.4711 DKK and ended at 7.4417 DKK. The best value for this year was 7.5483 DKK on 9th May 2020, and the worst value was 7.435 DKK on 28th December 2020. The average exchange rate of the year was 7.4555 DKK.

2021

On 1st January 2021, the exchange rate was at 7.3935 DKK, which was also the year's worst rate. By the end of the year, it reached 7.4356 DKK. On 20th March 2020, the year's best value was observed, 7.4628 DKK, and the year’s average was 7.437 DKK.

2022

The year started with an exchange rate of 7.4375 DKK and ended at 7.4522 DKK. The best exchange rate of the year was 7.5162 DKK recorded on 10th September 2022, and the worst was 7.4308 DKK on 22nd April 2022. The average EURDKK exchange rate was 7.4406 DKK.

Current EURDKK price

The current EURDKK price is subject to fluctuation due to the volatility of the forex market. Investors can check it on the chart or the SimpleFX Webtrader platform.

Is EURDKK a good investment?

Whether EURDKK is a good investment depends on factors such as interest rates, monetary policies, geopolitical events, etc. The answer depends on analyzing these factors and the potential returns on investment. If the factors are also stable and there are more chances of return, this currency pair brings more interest from investors worldwide.

Trade EUR/DKK the Simplest way.

Trade EURDKK

Don't have an account yet?

Open it!