Currency

Denmark is a member of the EU but not of the European Economic and Monetary Union. Therefore, the Danish krone (crown) is used in Denmark. You can use the Euro in shops, but you will receive change in kroner.

As of June 7, 2010, 1 EUR is 7.57 DKK.

Naturally your expenses while in Denmark will depend on your living situation and your own spending habits. Since it is difficult to know what those are, we can only give you a general idea of some of the costs you will encounter in Denmark.

Housing: This depends upon what you are assigned or can find yourself. The prices are subject to change.

Personal Expenses, includes food: You could survive on approximately DKK 1,800 a month for food. A hot meal in a CBS cafeteria costs approx. DKK 30-40. If you plan to eat out in restaurants, then plan on spending much more for food.

Books/supplies: The cost depends of course on the subject but most foreign students are shocked at the price of books in Denmark. However, you should always check to see whether the book is available in the CBS Library. A book can cost anywhere between 150 and 600 kroner; however, you can save a great deal of money by buying second-hand books from other students. Check the notice boards at CBS for any good offers AND do not forget to check e-Campus and look under "Books."

Miscellaneous costs in Copenhagen that may be of Interest:
in June 2010:

Banks and Credit cards
Ask your bank which options you have for withdrawing money while you live and travel abroad. Inquire about fees associated with withdrawal because charges can vary greatly from bank to bank.
You will find that most major credit cards are honored in Denmark, and that you will be able to use credit cards for payment in restaurants, cafes and in most shops. However, a few supermarkets do not accept foreign credit cards. Most supermarkets add 3% to the purchase price if you use foreign credit cards so it would be a good idea to bring some Danish kroner for immediate expenses.
If you plan to use traveler’s checks please remember that every time you exchange money, the bank charges DKK 60 in commission if you cash one or two checks at any one time. If you cash three or more checks DKK 30 commission is added per check.
For European students, it is possible to have your own postal giro account at home and use it via post checks here in Denmark. The procedure is fairly straightforward in as much as you can go to any post office and obtain Danish kroner by using the check, and the money will be withdrawn from your home account. Money orders made out in Danish kroner can be dispatched and received from most post offices in Denmark.
In Denmark, as in many other countries, it is not a good idea to carry large sums of money. Therefore, it is natural to open a bank account. In order to open a bank account in a Danish bank, you need to have a CPR number.
Cash Machines / ATM are found outside all banks as well as in shopping centers. An ATM is also located in one of the CBS buildings (Solberg Plads).

You can open a Danish bank account while in Denmark (and if you are lucky enough to be one of the few students granted a scholarship, then you will be required to have a Danish bank account to receive you scholarship installments), but you have to have a Danish Civil Registration Number (CPR) before you can withdraw money from it.

Taxation
According to our tax treaties, foreign students are not taxed in Denmark on income for personal work performed in Denmark, when the income is necessary for the subsistence of the students.

For the income year 2010 the Danish tax authorities have fixed the amount necessary for the subsistence of a student to DKK 71,000. This amount can thus be earned by foreign students without taxation in Denmark.
You can contact local tax authorities in Denmark concerning this matter. You will find addresses and telephone numbers on www.skat.dk .