The Central Bank of Iceland has amended the Terms of Auction for the Bank’s purchase of Icelandic krónur in exchange for foreign currency. The auction that was announced on 25 May 2016 will be held on 16 June 2016.

An amendment is made to the wording in Article 4 of the Terms of Auction so as to emphasise that the combination of non-competitive bids and valid competitive bids will determine the lowest possible purchase price for krónur in exchange for euros in the auction. Furthermore, Article 5 of the Terms of Auction have been amended to accord with the amendments to Article 4; furthermore, Article 5 no longer requires that bids below 190 kr. per euro be rejected in full.

No other substantive amendments have been made to the Terms of Auction.

Further information can be obtained from Már Guðmundsson, Governor of the Central Bank of Iceland, at tel: +354 569-9600.

Attachments:

Terms of Auction for the purchase of Icelandic krónur by the Central Bank of Iceland in exchange for euros, as amended on 13 June 2016.pdf

See earlier published information here.

Press release no. 15/2016

13 June 2016