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Final break with the gold standard

The Great Depression from 1929 led to pressure on the Danish currency reserve, inter alia because non-residents redeemed their claims. At the same time Denmark's key trading partner, Britain, broke with the gold standard on 21 September 1931. In view of these circumstances on 22 September 1931 Denmark introduced a ban on the export of gold. Only a few days later the gold standard was finally abandoned with the Act on the discontinuation of the gold encashment obligation of 29 September 1931.

Last update: 05/10/2011

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