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Overview of the Icelandic FX market

After having depreciated somewhat autumn in 2018, the króna has been relatively stable so far this year. Since the beginning of the year, the EURISK exchange rate has stayed between 132 and 140 króna. The Central Bank intervened twice in the FX market last week. On Tuesday, the CB responded to an inter day depreciation of the króna by selling EUR9m (ISK 1.2 bn.). After WOW air ceased operations on 28 March, the CB sold EUR 6m (ISK 0.8bn.).

Icelandic FX market - April 2018