The Danish krone is the currency of Denmark. The banknotes are printed on paper. Denmark’s Nationalbank is responsible for issuing the Danish banknotes. The Denmark krone replaced the Danish rigsdaler as the official currency of Denmark in 1873. In an effort to manage currency fluctuation risks, Denmark joined in an agreement (ERM ll) with the European Central Bank. As a result of this agreement, the Danish krone is pegged to the euro.