In order to support the commercial sector Den Københavnske Assignations-, Veksel- og Lånebank called the Kurant Bank was established. The bank held the sole right to issue banknotes, which it was obliged to exchange for silver coins at any time. However, it was not required to hold enough silver to cover the value of the notes. Since it issued more notes than it could encash the notes depreciated in value.
Last update: 05/09/2011
Danmarks Nationalbank
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The Kurant Bank – Denmark's first bank
