Beint á efnisyfirlit síðunnar

Exchange rate

Latest fixing: 24.10.2014
Currency Buying rate Selling rate Mid rate
USD 120.8 121.38 121.09
GBP 193.71 194.65 194.18
CAD 107.64 108.28 107.96
DKK 20.52 20.64 20.58
NOK 18.346 18.454 18.4
SEK 16.63 16.728 16.679
CHF 126.69 127.39 127.04
JPY 1.1163 1.1229 1.1196
XDR 179.31 180.37 179.84
EUR 152.79 153.65 153.22
Broad merchandise index 192.0323
Narrow merchandise index 193.65
Broad trade index 193.6633
Narrow trade index 195.0451
Narrow trade index* 206.8576
Fixing: 2014-10-24
* The index has been recalculated so that, on January 2, 2009, it was assigned a value equivalent to that of the now-discontinued Exchange Rate Index.

Correction 1 June 2012:

Because of a malfunction in the Central Bank of Iceland’s market information system, the Bank’s exchange rate was incorrectly listed on 1 June 2012. It proved necessary to post the exchange rate again, and the corrected information appeared on the Bank’s website about 50 minutes after the first listing. The difference was small, or 26 aurar (0.26 krónur) in the exchange rate of the euro, and a similar amount for other currencies. The Central Bank apologises for this error.  

Correction 16. February 2011:

Due to flaws in software, the central exchange rate of several currencies was incorrectly recorded during the period from 13 January 2011 through 14 February 2011. The currencies affected are the Chinese yuan (CNY), the Taiwan dollar (TWD), the South Korean won (KRW), the Surinamese dollar (SRD), the Indian rupee (INR), the Brazilian real (BRL), and the Jamaican dollar (JMD). The exchange rates of these currencies have been changed in the Central Bank of Iceland’s exchange rate database. The difference was greatest on 2 February 2011, when the difference between the recorded exchange rate and the correct rate measured about 5.8%. As an example of the error on that date, the yuan (CNY) was recorded at ISK 1 higher than it should have been.

It should be noted that the recorded exchange rate of these currencies is not the official reference exchange rate in the sense of Article 19 of the Act on the Central Bank of Iceland, no. 36 of 22 May 2001; cf. the news release dated 1 December 2006. The Central Bank records the central exchange rate of the above currencies primarily for information purposes for the website’s users. Nonetheless, the Central Bank strongly emphasises the presentation of correct information on currency exchange rates, and it will make all due effort to enhance the reliability of these data in the future.

The Bank has also corrected weighted exchange rates, although the effect of these currencies on weighted indices is very limited. For example, the difference in the narrow trade-weighted index for 2 February 2011 was -0.169%. The changes made reduce the index from 213.986 to 213.624.

New: January 6, 2009:
The Central Bank of Iceland discontinued the publication of the Exchange Rate Index (the trade-weighted index, TWI) at year-end 2008, as was announced in the Bank’s news release no. 43/2006, dated November 30, 2006, and its statement on the updating of currency baskets and the introduction of new exchange rate indices (see: Updating of currency baskets and the introduction of new exchange rate indices). See also the Bank’s news release no. 1/2009, dated January 6, 2009.

The Central Bank of Iceland makes every effort to ensure that its published information on the official exchange rate is accurate and up to date, but accepts no responsibility for the reliability of these data nor for any conceivable loss which may arise from its use, cf. Copyright and disclaimer. Nor does the Central Bank of Iceland accept responsibility for any information on the exchange rate of currencies against the króna which are published on external websites, or for the consequences of using it.

The exchange rate of the króna is determined in the interbank market for foreign currency which is open from 9:15 to 16:00 on business days. Once a day the Central Bank of Iceland fixes the official exchange rate of the króna against the above currencies to be used as a standard for official agreements, court cases and other agreements between parties when an alternative standard for a rate of exchange is not specified, cf. Article 19 of the Central Bank Act No. 36/2001, and fixes the official exchange rate index at the same time. This is done between 10:45 and 11:00 each morning that organized foreign exchange markets operate. Under special circumstances, the Central Bank may temporarily suspend its own quotation of the rate of exchange of the króna.

The most recent exchange rate is available in XML format here. A parameter can also be entered to specify the date for the exchange rate in XML format. Example: To retrieve the exchange rate on January 25, 2007, add the parameter: /?PageID=289&dagur=25.01.2007