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Fixed to the Euro


Since the 1st of January 1999, the Danish Crown has been fixed to the Euro in the ERM II system or the European Exchange Rate Mechanism. Participation is voluntary for EU countries not participating in the EMU currency union. The United Kingdom and Sweden are outside of the Exchange Rate Mechanism.

The system was launched in March 1979, under the then EC and was originally aimed at reducing variations in the exchange rates before preparing new member states to introduce the Euro as their main currency.

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