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| Faroe Islands |
 CURRENCY:
The currency of the Faroe Islands is called the Krona (pl. Kronur). Krona banknotes are issued in the following denominations: 50, 100, 500, and 1000 Kronur. The Faroe Krona is valued at parity with the Danish Krona.
For smaller values, Danish coins are used, with 1 Krona = 100 Ore.
ISSUING AUTHORITY:
ISO Code: FIK
CURRENCY IMPORT/EXPORT RESTRICTIONS:
The import and export of all currencies is free.
Amounts over EUR 15,000 or equivalent must be declared .
CIRCULATION:
Current series of notes were issued between 2000 and 2004. Many notes issued after 1949 are still redeemable with the Central Bank of the Faroes ( Foroyar Landstyri)
ALTERNATIVE CURRENCIES:
Danish currency is widely accepted.
IN THE FUTURE:
Although included in the Kingdom of Denmark, the Faroe Islands are not members of the European Union. This may affect the valuation of the Faroese Krona if Denmark decides to participate in the European Common Currency (EURO).
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