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Icelandic Krna ISK

 

Detailed information and fundamental factors

Central Bank: Central Bank of Iceland

Public Debt to GDP Ratio, 2016: 56.5%

Trade Balance, 2016: -$0.424 bln.

Inflation, 2016: 1.9%

Sovereign Credit Ratings:

Fitch
A-
Positive
Moody's
A3
Stable
S&P
A
Stable

Supporting Factors

High-yielding interest rates

medium

Factors of Weakness

Dependence on the eurozone

The Icelandic krona is the currency of Iceland. It was separated from the Danish krona after the dissolution of the Scandinavian Monetary Union and Icelandic autonomy from Denmark in 1918, while first coins were issued in 1922. The economy of Iceland is export-driven, marine products being the majority of exporting goods.



Icelandic Krona News Archive

Rating Downgrades Drop Icelandic Krona

The Icelandic krona declined to the lowest level in almost seven years against the U.S. dollar yesterday after the rating downgrades by S&P and Fitch rating agencies raised the risk-averting mood among the investors.

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