Iceland’s Currency Regains Strength Skip to content

Iceland’s Currency Regains Strength

The exchange rate index of the Icelandic króna reached 191 points on Wednesday and has not been stronger compared to foreign currencies after Iceland’s banking system collapsed in October last year.

The Icelandic króna. Copyright: Icelandic Photo Agency.

After markets closed on Wednesday, USD 1 cost ISK 114, EUR 1 cost ISK 143, GBP 1 cost ISK 162.3, while DKK 1 cost ISK 19.2, Fréttabladid reports.

The Glitnir Bank research department pointed out that the ISK had appreciated by 11 percent in January and that it is clear that the government’s and the International Monetary Fund’s (IMF) economic stabilization program has begun to deliver results after a shaky start in December.

That might please the IMF commission, which will undertake the first reevaluation of the economic stabilization program in the coming days.

Click here to read more about the economic stabilization program.

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