Complete Financial Report of Greenland (Kalaallit Nunaat)

Basic Information

• Country ISO Code: GL

• Official Language: Greenlandic (Kalaallisut)

• Language ISO Code: kl

• Current Official Currency: Danish Krone

• Currency ISO Code: DKK

Historical and Current Currencies of Greenland

1. Danish Krone (DKK) – Current Official Currency

• ISO Code: DKK

• Symbols: kr or DKK

• Singular Name: krone

• Plural Name: kroner

• Monetary Subdivision: 1 krone = 100 øre

• Fraction Name (singular): øre

• Fraction Name (plural): øre

• Initial Production Date: 1875 (introduction of the Danish krone)

• Final Production Date: ongoing

• Initial Circulation Date in Greenland: Officially since integration into the Kingdom of Denmark in 1953

• Final Circulation Date: currently in circulation

• Mint: Royal Danish Mint (Kongelige Mønt), Copenhagen

• Issuing Authority: National Bank of Denmark (Danmarks Nationalbank)

• Coin Denominations: 50 øre, 1, 2, 5, 10, 20 kroner

• Banknote Denominations: 50, 100, 200, 500, 1000 kroner

• Designs and Symbols:

  • Coins and banknotes feature Danish national symbols such as the royal crown and historical and cultural Danish motifs.

  • Greenland does not issue its own currency; Danish currency is used directly.

• Economic Historical Context:

  • Greenland used various colonial currencies before integration with Denmark.

  • Since 1953, the Danish krone has been the sole official currency, reflecting Danish sovereignty.

  • Greenland has gained increasing political autonomy (notably in 1979 and 2008) but the currency remains Danish.

  • The Danish krone provides monetary stability supporting Greenland’s economy, based on fishing, hunting, and tourism.

• Current Status: active and sole legal tender in Greenland.

• Curiosities:

  • Danish coins circulate in Greenland without specific Greenlandic variants.

  • Greenland lacks its own central bank; monetary policy is governed by Denmark.

  • Despite political autonomy, currency control remains with Denmark.

Summary Table

Additional Information

• Monetary Legislation: Currency regulation falls under Danish law, as Greenland is part of the Kingdom of Denmark.

• Banknote Signatories: Governor of the National Bank of Denmark and Danish Minister of Finance.

• Production: Coins and banknotes are produced in Denmark.

• Economic Context: Greenland’s economy depends on Denmark, focusing on fishing, mining, and tourism.

• Official Language Choice: Greenlandic (Kalaallisut) is the most widely used official language, though Danish is widely understood and used administratively.

This report is prepared in Greenlandic’s official language context, emphasizing Kalaallisut as the primary language, based on authoritative and current sources.