Icelandic Króna Appreciates by 11 Percent in One Year Skip to content

Icelandic Króna Appreciates by 11 Percent in One Year

The exchange rate of the Icelandic króna has appreciated by 10.8 percent in one year and by 17.6 percent since it hit its lowest point at the end of 2008, shortly after the collapse of the Icelandic banking system.

Copyright: Icelandic Photo Agency.

According to a newsletter issued by the bank Íslandsbanki last week, the exchange rate of the króna is currently 5.6 percent higher than last year’s average, ruv.is reports.

Around this time last year, one euro cost ISK 182 and one US dollar ISK 128. However, now one euro costs ISK 157 and one US dollar is exchanged for ISK 121.

The króna has depreciated by 47 percent since mid-year 2007. At that time, one euro cost ISK 84 and one US dollar ISK 62.

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