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Króna Drops As Banking Crisis Anniversary Nears
The Icelandic Króna (ISK) has dropped by six percent against the euro since the beginning of September, RÚV reports. In a matter of hours on Tuesday morning it fell two percent. The Central Bank used its foreign reserves to prevent an even…
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Icelandic Króna Finally Drops In Value
Yesterday, the Icelandic króna depreciated 1.8% and since the beginning of June it has fallen by 5.2%, reports RÚV. The strong króna has been causing tourists headaches, with already expensive Iceland getting more and more unforgiving. Over the last 12 months the…
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Stronger Króna Hasn’t Made Things Cheaper
During the past year, the exchange rate index of the Icelandic króna has increased a whopping 25%, despite that prices of imported goods have not followed suit, reports RÚV. Much of products sold in the country have to be imported from abroad, which…
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Most Icelanders Do Not Believe The Króna Is The Future
Only about one third of respondents to a new poll believe that the króna will be Iceland’s currency in the future. About 28,000 Icelanders responded to the poll, conducted by national broadcasters RÚV. Of those, 60% either strongly or moderately disagreed with…
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50 ISK Piece Most Beautiful Icelandic Legal Tender
The humble 50 krónur coin has been voted the most beautiful piece of currency in Iceland. Vísir reports that numerous people cast votes for Iceland’s most beautiful currency. These votes were made at The Central Bank and National Museum Numismatic Collection over…
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Most Icelanders Want To Drop The Króna
The majority of Icelanders who responded to a new poll want to adopt a different currency than the króna, irrespective of EU membership. According to the poll, conducted by Fréttablaðið and Stöð 2, 53% of those who responded want Iceland to adopt…
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Iceland’s Showdown With Creditors Arrives
The Icelandic government will tell hedge funds and other creditors in its failed banks how their claims can be settled this week, reports Bloomberg. The government has reportedly designed a model to protect the ISK from any instability that might result from…
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Iceland Prepares To Phase Out Capital Controls
Iceland is planning to sell six-year euro-denominated bonds in a push to ease the capital controls that have been in place since the economic collapse of 2008. According to Bloomberg, the government hired Barclays Plc, Citigroup Inc., Deutsche Bank AG and JPMorgan Chase…