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Overview of the Icelandic FX market

Just before Christmas, the króna began to appreciate. The CBI then intervened and bought EUR 3m (4.1bn) on 21 December. The appreciation reversed earlier this month. The CBI sold EUR 33m (ISK 12.3bn) in four days against the depreciation. The CBI sold net EUR 30m, which is about 0.5% of the foreign exchange reserves.

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Icelandic Economic Weekly: Monday 14 January 2019

A total of 2.3 million foreign passengers departed Iceland through Keflavík International Airport last year. Statistics Iceland published tourism short-term indicators and released revised numbers for trade in goods for the first 11 months of 2018 as well as preliminary numbers for December 2018. The real exchange rate of the Icelandic krona was 9.2% lower in December 2018 than in the same month 2017.

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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

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