Do you need to convert your currency to Icelandic currency? Use our Currency converter below.
Are you unsure about exactly how much that sandwich was? Or do you really want to buy a traditional lopapeysa (woolen sweater) but don’t know how much you can afford? Check out our currency calculator to make sure you don’t spend too much (or too little for that matter) when you visit Iceland.
The official currency in Iceland is the Icelandic Krona. The abbreviation for the Iceland currency is ISK. Despite popular belief, the Euro is NOT the official currency of Iceland even though Iceland is indeed in the European Union! The currency is very strong, one of the strongest in the world, so chances are if you are visiting Iceland from pretty much anywhere else in the world, Icelandic currency will be stronger than your local currency. This means that the exchange rate of Icelandic currency will not be in your favor and that you will be paying more with your local currency than Icelanders would pay with local currency in Iceland.
While the Icelandic Krona fell over a decade ago, the Icelandic government has done well in getting Iceland currency back on its feet and back as a contender on the world stage. The strength of currency in Iceland is similar to the strength of currency in other countries such as Switzerland, Norway, Sweden, and Japan. This is why tourists must expect to pay a lot more for simple things such as gas in Iceland and groceries in Iceland when visiting this beautiful but expensive country.
Our exchange rates are updated constantly via the Central Bank of Iceland, so you can make sure you know where your money is going. Have fun!