Saturday, May 18, 2013
The monetary unit in Iceland is króna (plural: krónur). The international abbreviation is ISK and the domestic abbreviation is kr. Million units are expressed as m.kr. and billion units as b.kr (ma.kr in Icelandic).
The Central bank pursues an inflation target of 2.5% with monetary policy decisions on preannounced dates. The Central bank can intervene directly in the FX market, affecting the exchange rate in order to bring inflation to target.
The ISK Interbank Market (REIBOR) has operated in its current form since 1998. Market participants quote borrowing and lending rates for standard maturities up-to 12 months.
The FX Swap Market was established in 2001. Swaps are made in ISK and USD/EUR and market participants are required to quote firm bid and ask prices for maturities of 1W, 2W, 1M, 2M, 3M, 6M, 9M and 12M.
Real time rates for Interest Rate Swaps and REIBOR can be found on the
Market Overview Page
Restrictions on FX market:
Following the financial crises late in 2008 the Central Bank of Iceland issued new Rules on Foreign Exchange.
Islandsbanki Research News
A link to Islandsbanki Research News.
FX Analysis - by New Kaupthing
Here you will find Fixed Income and FX Analysis by New Kaupthing Bank.
Macroeconomic Research - by NBI
Here you will find Macroeconomic Research by NBI.
When is the currency market in Iceland open?
The currency market in Iceland is open from 9:15 to 16:00 GMT on business days.
What is the settlement standard in the Icelandic currency market?
In Iceland the standard is two days, T+2, for currency transactions.
The ISK dependent on global conditions
Where is the króna headed?
ISK depriciation before the year-end
The ISK and short term rates, Jan-2007
The Icelandic krona, December 2006
The Icelandic Krona: Highlights and summary
Inflation premium rises
HFF - Bonds
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RIKV 13 0618
RIKV 13 0715
RIKV 13 0815
RIKV 13 0916
RIKV 13 1015
RIKV 13 1115
RIKB 14 0314
RIKB 15 0408
RIKB 16 1013
RIKB 19 0226
RIKB 22 1026
RIKB 25 0612
RIKB 31 0124
RIKS 21 0414
12 Months Change*
3 Months Change*
Last Month Change
* Annualized rates
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