April
Ave. temp 0°C / 32F
Daylight hours 15
Daylight hours 15
Money and Currency in Iceland
General information
The monetary unit of Iceland is the Icelandic króna (ISK). Iceland is a highly cashless society, and credit and debit cards are widely accepted throughout the country. Contactless card payments and mobile payment options are also widely used.
Foreign currencies are rarely accepted for everyday purchases, so visitors should generally expect to pay in Icelandic krónur or by card.While cash is still legal tender, most everyday transactions can be made without cash. .
The Icelandic króna
The Icelandic króna is abbreviated ISK. There are five valid coin denominations:
- 1 króna
- 5 krónur
- 10 krónur
- 50 krónur
- 100 krónur
There are also five valid banknote denominations:
- 500 krónur
- 1,000 krónur
- 2,000 krónur
- 5,000 krónur
- 10,000 krónur
The Central Bank of Iceland is responsible for issuing Icelandic banknotes and coins.
Exchanging Foreign Currency
Major foreign currencies can be exchanged for Icelandic krónur through banks and other currency exchange services.
However, most visitors will not need to exchange large amounts of cash, as cards are widely accepted throughout Iceland.
ATMs can be found in towns and communities around the country and can be used to withdraw Icelandic krónur.
History of the Icelandic Króna
The word króna, meaning "crown", is related to the names of other Nordic currencies, such as the Danish krone, Swedish krona and Norwegian krone.
The history of Icelandic currency dates back to 1885, when Iceland began issuing its own banknotes. Before that, Danish currency was used in Iceland.
The first Icelandic króna coins were issued in 1922, following the dissolution of the Scandinavian Monetary Union.
For current information about Icelandic currency and exchange rates, see the Central Bank of Iceland.
