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Overview of the Icelandic FX market

In April, the Icelandic króna (ISK) depreciated slightly against the currencies of all main trading partners, except for the Swedish krona. At the end of day yesterday (6.5.2019), the euro stood at 135.9 and had appreciated by 2.1% since the beginning of the year. The US dollar stood at 121.4 and had appreciated by 4.7% since the beginning of the year. Turnover in the FX market in April was ISK12.4bn as compared with ISK 32.2bn in March.

The Central Bank did not intervene in the market in April. The Bank's last intervention was when WOW air ceased operations on 28 March, when it sold 6 million euros (ISK 0.8bn).

Icelandic FX market - May 2018