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The goal of the Central Bank of Iceland is to promote price stability, financial stability, and sound and secure financial operations. Since Iceland is a small and open economy with an independent currency, the exchange rate of the króna has a major impact on domestic price developments, the financial system and economic activity in the country as a whole.

The exchange rate of the króna against foreign currencies is recorded at 14:15 Central European Time on each day that regulated foreign exchange markets are generally open.

A foreign exchange market is an international platform where currencies are bought and sold. The role of foreign exchange markets is to facilitate and manage the exchange of foreign currency between those who want to buy and to sell currency. The exchange rate of individual currencies is determined by trading in the foreign exchange market.

The exchange rate index of the Central Bank shows the trade-weighted average exchange rate of certain foreign currencies against the króna.

The exchange rate index of the Central Bank shows the trade-weighted average exchange rate of certain foreign currencies against the króna.

The exchange rate of a currency is the price of one currency measured in terms of another.

The latest official reference exchange rate of the Central Bank of Iceland can be found on the Official Exchange Rate Registration page.