For travelers planning a trip to Greenland, understanding the basics of its currency and money system is an integral part of their journey.
Fortunately, Greenland’s economy has been relatively stable over the last two decades, and all major currencies are accepted in central banks nationwide.
However, knowing local bills and coins can be incredibly useful when navigating this mysterious island while helping to ensure that you have enough capital throughout your travels.
In this blog post, we will provide information on the types of currencies used in Greenland and all you need to know about the prices here.
The Currency in Greenland
As a part of the Kingdom of Denmark, the currency in Greenland is the same as Denmark: the Danish krone (DKK).
Exchange in Greenland
The exchange rate for this currency varies, but generally, 1 DKK equals about 0.15 USD or 0.13 Euros.
Planning a trip to a foreign land but don’t have the local currency?
Not to worry – you’ll find banks in all the major towns, and hotels may even allow you to change money!
Just remember that it’s more of an exception than the norm to find places that accept foreign currency, and they often won’t give you a favorable exchange rate.
You better exchange those dollars for some new dough before going to Greenland.
Credit Cards in Greenland
Most places in Greenland accept credit cards, although some of them will prefer cash.
That’s why you should always travel with some DKK in your pocket, just in case- especially if you are visiting small and remote settlements.
But don’t worry – most places that work with tourists, like hotels, restaurants, shops, and tour companies, will accept credit cards.
The credit cards that work in Greenland are Dankort, Diners, VISA, VISA PLUS-card, VISA, Electron, Eurocheque-card, Eurocard/Mastercard, Maestro, and Cirrus-card.
ATMs in Greenland
ATMs are available in all the major towns in Greenland: Nanortalik, Narsaq, Qaqortoq, Paamiut, Nuuk, Maniitsoq, Sisimiut, Kangerlussuaq, Aasiaat, Qasigiannguit, Ilulissat, Qeqertarsuaq, Uummannaq, Upernavik, Tasiilaq.
You can use them to withdraw cash from your debit or credit card.
You can only get DKK from these machines, so it’s important to remember that.
Always ensure you have enough money, and don’t trust your nearest ATM because some may be out of service sometimes during peak time or on the weekends.
The Prices in Greenland
As a rule of thumb, the prices in Greenland are pretty high compared to other countries.
A decent meal will cost around 30-40 DKK (4-6 USD), and local beer can range from 25 to 40 DKK (3.5 to 6 USD).
Alcohol is also more expensive than in most places due to government taxes.
You need to understand that Greenland is a remote island that imports many goods from abroad by ship or aircraft, mainly from Denmark, which is already considered another expensive country, making them more expensive than locally.
Nevertheless, exploring this hidden gem is worth every penny! 🙂
Tipping & Gratuity in Greenland
Tipping is not part of the culture in Greenland, and it’s not expected for most services.
All the prices already included the tips.
Leaving a small tip at the end of your meal or service can be appreciated if you’ve received excellent service.
It all depends on how satisfied you are with the service, and the tip amount is up to your choice.
VAT in Greenland
Greenland has no sales tax, so you don’t need to worry about additional taxes.
However, most of the goods in Greenland are much higher in price than in Northern Europe so you won’t feel the difference.
In conclusion
Understanding the currency in a foreign country is essential to ensuring you have enough capital throughout your travels.
Knowing the possible exchange rates, credit cards accepted, and ATMs available for cash withdrawal is also essential.
Moreover, it’s wise to research prices beforehand to plan accordingly and make an informed decision while in Greenland.
Remember, it’s always a good idea to carry some cash and credit cards with you, just in case!
Hopefully, now you know more about Greenland’s currency and money system.
I wish you luck on your journey and hope it will be full of unforgettable memories!
