Once Again the ISK Reaches New Historic Low Skip to content

Once Again the ISK Reaches New Historic Low

The Icelandic króna depreciated by 1.7 percent yesterday and currently at 169 points. Its currency rate has never been lower since the Central Bank of Iceland began registering it in 1993.

The index has increased by 41 percent since January 1 and has never been higher, Fréttabladid reports.

The ISK has dropped considerably in value for three days in a row. On Friday it depreciated by two percent after the Central Bank published figures on the balance of trade and by one percent on Monday.

The development on international financial markets is the largest influential factor in the depreciation of the ISK.

The US dollar, which has strengthened considerably compared to other major currencies recently, cost ISK 90.5 yesterday, and has not been more expensive compared to the ISK since early June 2002.

One euro is currently ISK 129, one pound is up to ISK 160 and one Danish krone costs ISK 17.

Click here to read yesterday’s news about the economic situation in Iceland.

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