ICELAND

(ISK) Currency News >>

CURRENCY:

Icelandic krona - ISK, Symbol kr

DENOMINATIONS:

NOTE: kr5,000, 2,000, 1,000 and 500.

COIN: kr100, 50, 10, 5 and 1.

US DOLLAR ACCEPTED?

CREDIT/DEBIT CARDS AND ATMS:

Most major credit cards accepted throughout Iceland, and ATMs are also widely available.

CURRENCY EXCHANGE:

This can be carried out at most larger banks. Many hotels can also provide this service.

TRAVELLER'S CHEQUES:

Easy to use in Iceland. Best in US dollars.

BANKING HOURS:

Mon-Fri 0915-1600.

CURRENCY RESTRICTIONS:

N/A

COUNTRY OVERVIEW:

Iceland is officially called the Republic of Iceland and is an island in the North Atlantic Ocean. Iceland has active volcanoes. The capital is Reykjavik and the official language is Icelandic. It is a member of the European Union and until the 20th century, was one of the poorest countries of Europe. It has grown rapidly and steadily to have one of the most radical and developed economies and governments in the western world.

POPULATION:

Around 319,756

ECONOMY:

The economy of Iceland is developed and the country has implemented free trade. Main elements include fishing, finance, industry and services. Despite this health, Iceland was one of the countries worst hit by the global financial crisis beginning in 2008. It was the first country to seek aid from the International Monetary Fund since the mid 1970s.