What Is Iceland Krona – ISK?
ISK is the currency abbreviation or the currency symbol for the Iceland Krona, the currency of Iceland. The krona is divided into 100 aurar and is often presented with the symbol "kr." This currency has earned the nickname "Icelandic Crown" in the financial markets because of the word krona's relation to the Latin word corona, meaning crown.
The Iceland Krona Explained
The krona was first seen in 1922 in coin form, followed by notes in 1929. The currency was revaluated in 1981, and only the whole kronur has been used since 2002.
Currency trading was suspended during the Icelandic banking collapse in 2008.
Iceland is not a European Union member and does not use the Euro. The country's Krona is managed by the Central Bank of Iceland. The value of the Krona can change rapidly against the U.S. dollar and other currencies.