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Overview of the Icelandic FX market

The ISK appreciated by 1.2% against the EUR but depreciated by 0.7% against the USD in September. At the end of the month, the EUR/ISK stood at 162.1, compared to 164.0 at the end of August. After the markets closed on 9 September, the Central Bank announced that it had decided to begin regular programme of foreign currency sales from Monday 14 September. Almost all the appreciation of the króna in September took place the day after the announcement, but the króna slowly depreciated for the rest of the month.

Icelandic FX market - 5 October 2020 (PDF)