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23.08.2017 14:41

Overview of the Icelandic FX market

The exchange rate of the Icelandic króna (ISK) has been quite unstable in the past 2 months or so. The ISK has depreciated against major trading partner currencies since early June when the euro temporarily dipped below ISK 110 and the USD below ISK 100. At end of day 22 August, the EUR cost ISK 124.8, up by 13.6% since the beginning of June. The USD has gone up by 8.9% during the same period.

Icelandic FX market - August 2017

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Overview of the Icelandic FX market

At the end of day on 24 October, the euro stood at ISK 124.2. The euro has hovered around ISK 125 since the first half of August. Since the beginning of this year, the euro has risen by 4.3%. There have been but negligible changes to the USD exchange rate since the latter part of June and the USD has cost around ISK 105 since then. Since the beginning of this year, the USD has fallen by 6.7%.

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The contents published here were produced by employees of Landsbankinn Economic Research and are based on information available to the public when the analysis was compiled. Assessment of this information reflects the views of Economic Research’s employees on the analysis date, which may change without notice. | Full disclaimer