Iceland's Currency: The Icelandic Króna (ISK)

Iceland uses the Icelandic króna (ISK) as its official currency. The currency code is ISK, and the symbol is "kr."

One króna is technically subdivided into 100 aurar (singular: eyrir), but aurar coins have not been in circulation for decades due to inflation. All transactions are conducted in whole krónur.

Brief History

The króna was introduced in 1922, replacing the Danish króna at par after Iceland gained sovereignty as a kingdom in personal union with Denmark. Following the dissolution of the union in 1944 and the establishment of the Republic of Iceland, the króna became the currency of a fully independent nation.

Practical Tips for Visitors

• Cash vs. Card: Iceland is highly card-friendly; credit and debit cards are accepted almost universally, even for small purchases. Carrying large amounts of cash is unnecessary.
• Exchange: Exchange currency at banks or ATMs (Hraðbanki) in Iceland for better rates than at airports or hotels. Avoid "no commission" bureaus which often have poor exchange rates.
• Coins and Notes: Coins come in 1, 5, 10, 50, and 100 krónur. Banknotes are 500, 1,000, 2,000, 5,000, and 10,000 krónur.