Bitget App
common_footer.down_desc
common_header.buy_cryptocommon_header.marketscommon_header.tradecommon_header.futurescommon_header.social_tradingcommon_header.grid_tradingcommon_header.earn
base info PlasticHero

calculator.detail.title

calculator.detail.title_des
PTH
PTH
swap
ISK
coin.update_time (UTC+0)calculator.common.refreshrefresh
widget.page_site
calculator.detail.computed_des

calculator.fiat.title

About the Icelandic Króna (ISK)

What Is the Icelandic Króna (ISK)?

The Icelandic Króna, abbreviated as ISK and often denoted by the currency sign “kr”, is the official currency of Iceland. The Icelandic Króna is a unique currency, given that Iceland is one of the smallest countries by population to have its own currency and monetary policy. The Icelandic Króna is the sole legal tender in Iceland, and it is used for all transactions within the country.

The Iceland Krona is issued by the Central Bank of Iceland (Seðlabanki Íslands). The Central Bank is responsible for the production and distribution of the currency, as well as for managing Iceland's monetary policy and maintaining the stability of the króna.

What Is the History of ISK?

The króna's roots trace back to the Scandinavian Monetary Union, drawing its name from the Latin word 'corona' meaning 'crown'. Initially, Iceland used the Danish krone, but started issuing its own banknotes in 1885. The Icelandic króna became distinct from the Danish krone after World War I and Icelandic sovereignty in 1918. Due to high inflation, the króna was revalued in 1981, with 100 old króna (ISJ) equating to 1 new króna (ISK).

Notes and Coins of ISK

The Icelandic Króna (ISK) comprises a variety of coins and banknotes, each with distinct values and designs. Coins in circulation include denominations of 1 króna, 5 krónur, 10 krónur, 50 krónur, and 100 krónur. The Central Bank of Iceland issues notes in denominations of 500 krónur, 1000 krónur, 2000 krónur, 5000 krónur, and the highest value of 10,000 krónur.

Is ISK a Stable Currency?

The Icelandic Króna (ISK) has historically been subject to considerable volatility, reflecting the challenges of maintaining currency stability in a small, open economy. Particularly impacted by the 2008 financial crisis, the króna saw a dramatic devaluation, with the exchange rate plummeting from about 90 króna to the euro at the start of 2008 to around 340 króna to the euro by the end of the year. This instability was a direct consequence of the collapse of Iceland's banking sector, which underscored the currency's vulnerability to global economic shifts. Moreover, the króna's value against major currencies like the US Dollar has also been prone to significant fluctuations. For instance, in the first half of 2006, the exchange rate ranged between 50 and 80 króna per US Dollar, but by late 2008, it had depreciated to approximately 135 króna per Dollar. These examples highlight the challenges faced by the Central Bank of Iceland in stabilizing a currency heavily influenced by external economic factors and the dynamics of Iceland's tourism and fisheries-dependent economy.

Is ISK Pegged to EUR?

No, the Iceland Krona (ISK) is not pegged to the Euro. Iceland maintains its own independent currency and monetary policy through the Central Bank of Iceland (Seðlabanki Íslands). The value of the Icelandic króna is determined by the foreign exchange market, meaning it is subject to fluctuations based on market dynamics, rather than being fixed or pegged to the Euro or any other currency.

Will Iceland Adopt the Euro as Its Currency?

As of January 2024, Iceland had not made any definitive plans to adopt the Euro as its official currency. The consideration of adopting the Euro is intertwined with the broader issue of European Union (EU) membership, which Iceland has approached with caution. Following the severe impact of the 2008 financial crisis on the Icelandic economy and the Icelandic Króna (ISK), there was increased discussion about the potential benefits of Euro adoption, such as enhanced economic stability and reduced currency volatility. However, such a move would require Iceland to cede control over its monetary policy to the European Central Bank, a significant concession for a country that values its economic sovereignty. Additionally, public opinion in Iceland has been divided on this issue, reflecting concerns about national independence and the implications for key sectors like fisheries.

coin.about_expand
calculator.fiat.text_2

calculator.detail.trend

1D7D1M3M1YAll
calculator.detail.trend_des

calculator.compare.title

calculator.compare.exchangecalculator.compare.pricecalculator.compare.maker_feecalculator.compare.tradable
Bitgethot-iconcalculator.compare.best
kr11.21
0.0200% / 0.0320%vip-iconcalculator.compare.vip
coin.update_time(UTC+0)

calculator.right.title

buy-coin-step-0-img
calculator.htb.step1_title
calculator.htb.step1_des
buy-coin-step-1-img
calculator.htb.step2_title
calculator.htb.step2_des
buy-coin-step-2-img
calculator.htb.step4_title
calculator.htb.step4_des

calculator.p2p.buy_title

calculator.p2p.buy_desc3
calculator.p2p.trade_and_ratecalculator.p2p.pricecalculator.p2p.amt_limit
calculator.p2p.low_to_high
calculator.p2p.pay_methods
calculator.p2p.fee_tips
calculator.p2p.action
calculator.p2p.no_data

calculator.p2p.sell_title

calculator.p2p.sell_desc4
calculator.p2p.trade_and_ratecalculator.p2p.pricecalculator.p2p.amt_limit
calculator.p2p.high_to_low
calculator.p2p.pay_methods
calculator.p2p.fee_tips
calculator.p2p.action
calculator.p2p.no_data

calculator.detail.affect_title

calculator.detail.affect_down
calculator.detail.affect_today
calculator.detail.affect_market
$0
calculator.detail.affect_valume
$129.69K
calculator.detail.affect_supply
0 PTH

calculator.detail.conversion_table

calculator.detail.conversion_down
calculator.detail.conversion_des1
calculator.detail.conversion_des2

coin.current_to_local

coin.amount
calculator.detail.time_
0.5 PTH
kr5.44
1 PTH
kr10.87
5 PTH
kr54.36
10 PTH
kr108.72
50 PTH
kr543.59
100 PTH
kr1,087.18
500 PTH
kr5,435.89
1000 PTH
kr10,871.79

coin.current_to_local

coin.amountcalculator.detail.time_
0.5ISK0.04599  PTH
1ISK0.09198  PTH
5ISK0.4599  PTH
10ISK0.9198  PTH
50ISK4.6  PTH
100ISK9.2  PTH
500ISK45.99  PTH
1000ISK91.98  PTH

calculator.detail.price_24

coin.amountcalculator.detail.time_calculator.detail.price_24_agocalculator.detail.price_24_change
0.5 PTH$0.03972$0.04560
-12.88%
1 PTH$0.07945$0.09119
-12.88%
5 PTH$0.3972$0.4560
-12.88%
10 PTH$0.7945$0.9119
-12.88%
50 PTH$3.97$4.56
-12.88%
100 PTH$7.94$9.12
-12.88%
500 PTH$39.72$45.6
-12.88%
1000 PTH$79.45$91.19
-12.88%

calculator.detail.price_month

coin.amountcalculator.detail.time_calculator.detail.price_month_agocalculator.detail.price_month_change
0.5 PTH$0.03972$0.05409
-26.55%
1 PTH$0.07945$0.1082
-26.55%
5 PTH$0.3972$0.5409
-26.55%
10 PTH$0.7945$1.08
-26.55%
50 PTH$3.97$5.41
-26.55%
100 PTH$7.94$10.82
-26.55%
500 PTH$39.72$54.09
-26.55%
1000 PTH$79.45$108.17
-26.55%

calculator.detail.price_year

coin.amountcalculator.detail.time_calculator.detail.price_year_agocalculator.detail.price_year_change
0.5 PTH$0.03972$0.{6}1080
-16.27%
1 PTH$0.07945$0.{6}2161
-16.27%
5 PTH$0.3972$0.{5}1080
-16.27%
10 PTH$0.7945$0.{5}2161
-16.27%
50 PTH$3.97$0.{4}1080
-16.27%
100 PTH$7.94$0.{4}2161
-16.27%
500 PTH$39.72$0.0001080
-16.27%
1000 PTH$79.45$0.0002161
-16.27%

coin.prediction

coin.prediction_question

price_predict.text_introduce

coin.prediction_question

price_predict.prediction_content

calculator.earn.title

calculator.earn.des
calculator.earn.coin

calculator.earn.apr

calculator.earn.action

calculator.p2p.latest_coins_title

calculator.p2p.latest_coins_desc

faq.title

calculator.faq.question1

calculator.faq.answer1

calculator.faq.question2

calculator.faq.answer2

calculator.faq.question3

calculator.faq.answer3

calculator.faq.question4

calculator.faq.answer4

calculator.faq.question5

calculator.faq.answer5

calculator.faq.question6

calculator.faq.answer6
calculator.detail.disclaimers