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The Foreign-Exchange Market for Danish Kroner
This article describes the institutional structure of the foreign-exchange market for Danish kroner. Global turnover is more than kr. 100 billion per banking day. The fixed-exchange-rate policy vis-à-vis the euro entails only small fluctuations in the exchange rate of the krone and thus narrower spreads between the large participants' bid and ask prices in the foreign-exchange market for Danish kroner than in other foreign-exchange markets.