From Iceland — A Good Year For The Króna

A Good Year For The Króna

Published December 30, 2013

The exchange rate of the Icelandic Króna against some of the major currencies is higher now than it was a year ago.

On Friday, the buying rate of the Euro was 158 ISK but was 168 ISK same date last year.

And the buying rate of US Dollar was 127 ISK one year ago, but last Friday it was 115 ISK.

So, this has been a good year for the Icelandic Króna, despite a dip in the first few weeks of 2013, when the buying rate of the Euro wound up at 174 ISK and of the US Dollar at 128 ISK by end of January.

Jón Bjarki Bentsson, economist with the department of research and analysis at Íslandsbanki, told Morgunblaðið that he didn’t expect as much depreciation at the beginning of 2014, on the contrary, he predicts the exchange rate to remain stable over the next few weeks.

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