In connection with the withdrawal from circulation of coin denominated in
the eyrir (pl. aurar), which is one hundredth of a króna (see press release 15/2003 of August 15 ), the Central Bank of Iceland would like to draw attention to
Regulation No. 674/2002.
Regulation No. 674/2002 requires that, from October 1, 2003 inclusive, the
amount of all claims and invoices shall be stated and paid in whole króna, by
rounding down a lower amount than 50 aurar and rounding up a higher amount to
the nearest króna. From that time, it is not obligatory to pay any amount
calculated to be lower than 50 aurar. From the same time, it is obligatory to
pay an amount calculated to be 50 aurar or more with a whole
króna.
No.19/2003
September 10, 2003