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Overview of the Icelandic FX market

The ISK depreciated by 2.3% against the euro in February. At the end of the month, the euro stood at 139.6 ISK, compared to 136.4 at the end of January. The ISK has depreciated by another 1.8% March to date and stood at 142.1 on 4 March.

The CBI sold EUR 3m to counter the depreciation on 2 March. Otherwise, the CBI has stayed on the side line since September last year.

Icelandic FX market - 5 March 2020 (PDF)