Iceland The Icelandic Króna (ISK) is the official currency of Iceland, issued by the Central Bank of Iceland. First introduced in 1885, it has undergone several transformations, including redenominations and changes in monetary policy. Unlike many European countries, Iceland chose not to adopt the euro, maintaining its sovereign currency. The króna is a freely floating currency, and its value is highly volatile due to Iceland's small, open economy, which is heavily reliant on fisheries, tourism, and renewable energy. The ISK is subdivided into 100 aurar, though aurar coins are no longer in circulation. Banknotes range from ISK 500 to ISK 10,000, while coins include ISK 1 to ISK 100 denominations.
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