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- Economic Forecast

Overview of the Icelandic FX market

The ISK depreciated by 11.9% against the euro in March. At the end of the month, the euro stood at 156.2 ISK, compared to 139.6 at the end of February. Turnover in the interbank foreign exchange market increased MoM in March. Turnover was EUR 390.5m (ISK 58,0bn) as opposed to EUR 76m (ISK 10.5bn) in February.  The CBI sold a total of EUR 69m (ISK 10.2bn) to counter the depreciation of the ISK in March.

Icelandic FX market - 3 April 2020 (PDF)