The króna (plural: krónur) is the currency of the Faroe Islands. It is issued by the Danish National Bank. It is not an independent currency but a version of the Danish krone. Consequently, it does not have an ISO 4217 currency code. The ISO 4217 code for the Danish krone is DKK. The króna is subdivided into 100 oyrur (singular oyra).
When German forces occupied Denmark on 9 April 1940, the Danish krone was used in the Faroes. However, all exchan...
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The króna (plural: krónur) is the currency of the Faroe Islands. It is issued by the Danish National Bank. It is not an independent currency but a version of the Danish krone. Consequently, it does not have an ISO 4217 currency code. The ISO 4217 code for the Danish krone is DKK. The króna is subdivided into 100 oyrur (singular oyra).
When German forces occupied Denmark on 9 April 1940, the Danish krone was used in the Faroes. However, all exchange between the Faroes and Denmark halted as a result of the occupation, leaving one currency to develop in two markets independently of each other. On 31 May 1940, special Faroese banknotes were introduced. They consisted of Danish notes with a special stamp. These notes replaced unstamped Danish at par.
From 14 October 1940, new banknotes were printed "on behalf of the National Bank of Denmark". The value of these new banknotes was the same as those already in use. On 18 December 1940, a Currency Central was established in order to monitor...
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