The Icelandic króna has strengthened by 4.5 percent against the euro over the past three months.
Photo by Páll Stefánsson.
The appreciation can be attributed partly to the increase in tourists during the summer months, Morgunblaðið reports.
According to Davíð Stefánsson, an economist at Arion Bank, the development means cheaper import of goods and overseas travel for Icelanders.
However, Davíð says that the króna is expected to weaken again in the fall.