20 January 2025

Foreign exchange market, exchange rate developments, and international reserves 2024

The Central Bank of Iceland has published a summary report on the foreign exchange market, exchange rate developments, and international reserves in the year 2024. It states, among other things, that the exchange rate of the króna appreciated during the year, exchange rate volatility was rather limited and the total turnover in the interbank foreign exchange market decreased year-on-year. The Central Bank intervened in the foreign exchange market once during the year in order to reduce fluctuations in the exchange rate of the króna. International reserves amounted to ISK 886 billion at the end of the year or 20% of the gross domestic product as in the previous year.

See more in the attached press release no. 1/2025: Foreign exchange market, exchange rate development and foreign exchange reserves in 2024.
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