The króna or krona is the currency of Iceland. Króna means crown. Iceland is the second smallest country by population, after the Seychelles, to have its own currency and monetary policy. The Icelandic króna is the only currency used in Iceland but you still won’t see much of it as the country is very dependent on debit and credit cards and many locals never use cash. The Icelandic word in the singular, “króna”, becomes “krónur” in plural. The international currency abbreviation is ISK, but in Iceland you will see “kr.” before or after the price of things.
Icelanders first began to issue their own banknotes in 1885 but before that time they had used the Danish Krone. During this time period, Iceland was under the Danish Royal rule and this was a big step towards their independence. In 1918 Iceland received autonomy from Denmark and as a result, took up the Icelandic Króna as the country’s official currency. Today Seðlabanki Íslands (Iceland’s Central Bank) handles the issuing of money in Iceland but the print is done by De La Rue in England.
Iceland is not a member of the European Union and does not use the euro. The Icelandic currency is a low-volume world currency, strongly managed by its central bank. In most shops electronic payment is accepted. Other currencies are very rarely accepted in Iceland.
Few Important Points of the Icelandic Krona (ISK)
Symbol: kr
ISO code: ISK
Central Bank: Central Bank of Iceland
Denominations: Banknotes: 500 krónur, 1000 krónur, 2000 krónur, 5000 krónur, 10000 krónur
Coins: 1 krónur, 5 krónur, 10 krónur, 50 krónur, 100 krónur
Value of the Icelandic Krona (As on 26/04/2022)
1 Icelandic Krona = INR 0.59 (Indian Rupees)
1 Icelandic Krona = PKR 1.46 (Pakistani Rupees)
1 Icelandic Krona = BDT 0.67 (Bangladeshi Taka)
1 Icelandic Krona = USD 0.0077 (United States Dollar)
1 Icelandic Krona = EURO 0.0072 (Euro)
Check out the Icelandic Kronor Banknotes Below:
10000 KRONOR BANKNOTE
5000 KRONOR BANKNOTE
2000 KRONOR BANKNOTE
1000 KRONOR BANKNOTE
500 KRONOR BANKNOTE
You can watch the following video in YouTube in my channel "CURRENCY UNIVERSE" to know more about the Icelandic Krona. Please note that the video is in Hindi.
ICELAND CURRENCY - THE KRONA
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Last updated on 26/04/2022
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