Once a day, the Central Bank of Iceland quotes the official reference exchange rate of the króna against foreign currencies. The exchange rate listing provides a snapshot of the market situation at the time it is listed. This exchange rate is not intended for use in transactions, but is published solely for informational purposes as a reference in official agreements, court cases, and other contracts between parties when another reference exchange rate is not specified, cf. Article 29 of Act No. 92/2019 on the Central Bank. At the same time, the ISK trade-weighted index of the Central Bank is registered. The publication of exchange rate listings depends on which currencies are in the calculated currency baskets that form the basis for calculating the trade-weighted indices. The listing of a currency with the Central Bank does not indicate whether it can be traded in domestic commercial banks.
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. The reference exchange rate is published on the Central Bank's website at approximately 16:00 local time on each business day. Under special circumstances, the Central Bank may temporarily suspend its own quotation of the rate of exchange of the króna.
The latest reference exchange rate of the Central Bank of Iceland can be found on the Official Exchange Rate page. Time series for exchange rate listings can be found under Time series.