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ISK - Icelandic Krona

Iceland, Krona

The Icelandic Krona is the currency of Iceland. Our currency rankings show that the most popular Iceland Krona exchange rate is the EUR to ISK rate. The currency code for Kronur is ISK, and the currency symbol is kr. Below, you'll find Icelandic Krona rates and a currency converter. You can also subscribe to our currency newsletters with daily rates and analysis, read Icelandic Krona News, or take ISK rates on the go with our XE Currency Apps and website. More info 

Top ISK Exchange Rates

Click on a currency code to learn about it.

Currency Facts

ISK Stats

Name: Icelandic Krona

Symbol: kr

Minor Unit:
1/100 = Eyrir

Top ISK Conversion:
EUR/ISK

Top ISK Chart:
EUR/ISK Chart

ISK Profile

Inflation: 3.9%

Coins:
Freq Used: kr1, kr5, kr10, kr100

Banknotes:
Freq Used: kr500, kr1000, kr2000, kr5000

Central Bank:
Central Bank of Iceland
Website: http://www.sedlabanki.is

Users: Iceland

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Icelandic Krona History

Being a former member of Denmark, Iceland used the Danish Rigsdaler and then the Danish Krone. In 1885, the country began issuing its own banknotes. Under Danish rule, Iceland was connected to the Scandinavian Monetary Union until 1914 when the monetary union disbanded. In 1918, Iceland gained autonomy from Denmark and the Icelandic Króna was established as the country's official currency. This first Krona suffered hyperinflation and in 1981, a reform took place to revalue the currency by a factor of 100. New notes and coins were issued and the ISO currency code was changed from ISJ to ISK.

Iceland's 2008 Financial Crisis
In 2008, the country suffered a financial crisis where the banking sector collapsed. The value of the Krona plummeted. Although the Central Bank tried to stabilize it by pegging it against the euro, the Krona continued to fall. Since then, there has been debate as to whether or not Iceland should adopt a more stable currency. The euro and the Canadian Dollar have been favored, though opinions are still mixed.

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