ISKIcelandic KronaIcelandic Krona (ISK)
The Icelandic krona is Iceland's national currency and the unit of account for a small open Nordic economy.
- ISO code
- ISK
- Symbol
- kr
- Region
- Europe
- Currency type
- Fiat currency
- Exchange system
- The Central Bank of Iceland issues krona banknotes and coins and conducts Iceland's independent monetary policy.
- Last reviewed
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ISK converter
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Quick facts
ISK at a glance
Currency profile
How ISK works
The Icelandic krona is Iceland's national currency and the unit of account for a small open Nordic economy.
The Central Bank of Iceland issues krona banknotes and coins and conducts Iceland's independent monetary policy.
- ISK is stated in whole kronur because no subunit is used in ordinary modern transactions.
- The current denomination dates from the 1981 exchange of 100 old kronur for one new krona.
Context
Why this currency matters
ISK offers a clear example of a small independent currency whose behavior can differ sharply from larger Nordic units. Iceland's 1981 redenomination and the currency's role through later financial stress are essential context for historical comparisons and whole-number display.
Monetary framework
Exchange arrangement
The Central Bank of Iceland issues krona banknotes and coins and conducts Iceland's independent monetary policy.
CurrencyHub shows daily reference rates. Banks, card networks, ATMs and transfer providers may apply different exchange rates, fees or spreads.
History timeline
Key dates for ISK
Icelandic krona became a separate national unit
Sovereignty and the end of the Scandinavian monetary arrangement established a distinct Icelandic currency system.
Central Bank of Iceland - historyCentral Bank of Iceland established
The central bank began operating as Iceland's monetary and note-issue authority.
Central Bank of Iceland - historyKrona redenominated
Iceland introduced one new krona for 100 old kronur.
Central Bank of Iceland - history
Usage and economy
How ISK is used
- Prices, wages and payments in Iceland.
- Nordic travel and commerce comparisons with NOK, SEK, DKK and EUR.
Country currency guides
Banknotes and coins
ISK currency units
The Central Bank of Iceland documents current krona banknotes.
The Central Bank of Iceland documents krona coins used in circulation.
One Icelandic Krona unit is recorded with 0 decimal places.
Related currencies
Currency relationships
Explore currencies connected through regional use, trade comparisons or monetary relationships.
FAQ
ISK questions
Why are ISK amounts shown without decimals?
The krona has no minor unit in ordinary use, so prices and payments are stated in whole kronur.
What happened to ISK in 1981?
Iceland redenominated the currency at 100 old kronur for one new krona.
Is ISK the same as the Nordic krone currencies?
No. ISK, NOK, SEK and DKK are separate currencies with different issuers and exchange rates.
Sources
Data and editorial review
Rate source: Frankfurter
Last reviewed:
Currency identity and cash information is checked against central-bank, government, ISO and official international sources.