The
Faroese Kroner is the title of the Country’s currency. It
is actually Danish money and the only difference is in the prints
on the banknotes. Despite this Danish and Faroese money can not
be used interchangeably between the two nations. You would have
to get the currency exchanged as the money may not be accepted
for use in transactions. Coins used are however the same as the
Danish ones.
Denominations:
One Faroese Kroner is equivalent to 100 Ore. Coin denominations
exist for 25 and 50 Ore and 1, 2, 5, 10 and 20 Kroner. Bank notes
exist for 50, 100, 200, 500 and 1000 Kroner.
Exchange Rates against major currencies:
The Faroese Kroner is directly equivalent to the Danish Kroner
which has always traded strongly against major international
currencies. Local media and banks display exchange rates against
major currencies. Distribution of the currency is regulated by
the Danish National Bank which also displays official rates.
At the time of writing, 1 American Dollar was equivalent to 5.824
Kroner, 1 British Pound is equivalent to 10.995 Kroner and 7.452
Euros.