Credit Default Swaps of Icelandic Banks decreased yesterday after The Icelandic Central Bank’s swap contracts were announced last Friday.
Since Friday, the conditions of Icelandic banks have improved on international markets and the rate of the Icelandic Krona is improving. The market conditions of Icelandic Banks are now close to some of the larger international banks, Fréttabladid reports.
The rate of the Icelandic Krona is steadily improving and when markets closed yesterday it had risen by 7.8 percent in five days. On Friday it rose by 4.1 percent which is the largest increase since April 2002.