Icelandic Króna (ISK) Currency Converter
Understanding the Icelandic Króna (ISK)
The Icelandic Króna (plural: krónur) is the official currency of Iceland. Since the 2008 financial crisis, the ISK has experienced significant fluctuations, making a reliable exchange rate calculator essential for travelers planning a trip to the Land of Fire and Ice. Iceland is known for being an expensive destination, so understanding how many krónur you get for your home currency helps in budgeting for excursions, meals, and accommodations.
How to Use This Calculator
This tool uses approximate market rates to give you a real-time estimate of your purchasing power. To get an accurate conversion:
- Enter the Amount you wish to convert.
- Select your Base Currency (e.g., USD if you are from the United States).
- Select the Target Currency (usually ISK if you are checking local prices).
- Click Calculate Exchange to see the total conversion.
Typical Exchange Values in Iceland
While exchange rates change daily, here are some common conversions to help you visualize the value of the Icelandic Króna:
| Item | Approximate ISK | Approximate USD |
|---|---|---|
| Coffee (Latte) | 750 – 900 ISK | $5.50 – $6.50 |
| Local Beer (Pint) | 1,200 – 1,500 ISK | $9.00 – $11.00 |
| Standard Main Course | 3,500 – 5,500 ISK | $25.00 – $40.00 |
| Fuel (Per Liter) | 310 – 330 ISK | $2.25 – $2.40 |
Travel Tip: Cash vs. Card in Iceland
Iceland is one of the most card-friendly countries in the world. From the smallest hot dog stand in Reykjavík to remote campsites in the Westfjords, almost every vendor accepts Visa and Mastercard. Many travelers complete their entire trip without ever touching physical Icelandic Króna notes. However, always check if your bank charges "foreign transaction fees," as these can add 3% to every purchase you make abroad.
Frequently Asked Questions (FAQ)
Should I exchange money at Keflavík Airport?
While convenient, airport exchange booths often offer slightly less favorable rates than banks in the city center. Given that cards are accepted everywhere, it is often better to simply use your card or withdraw a small amount from an ATM.
What is the currency code for Iceland?
The international ISO code is ISK, and you will see it represented locally with the symbol "kr."
Are prices in Iceland inclusive of tax?
Yes, all prices displayed in Iceland include the Value Added Tax (VAT). Foreign tourists can often claim a VAT refund on souvenirs and clothing if the purchase exceeds 6,000 ISK.