DEFINITION of ISK
The currency abbreviation or the currency symbol for the Iceland Krona (ISK), 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.
BREAKING DOWN ISK
The krona was first seen in 1922 in coin form, followed by notes in 1929. The currency was revaluated in 1981, and only whole kronur have been used since 2002. Currency trading was suspended during the Icelandic banking collapse in 2008.