Исландия кронасы: тарихы, айналымы және құндылығы

Currency of Iceland

The króna or krona (sometimes called Icelandic crown; sign: kr; code: ISK) is the currency of Iceland. Iceland is the fifth smallest country by population, after Vanuatu, Barbados, Tonga and the Seychelles, to have its own currency and monetary policy.

Like the Nordic currencies (such as the Danish krone, Swedish krona and Norwegian krone) that participated in the historical Scandinavian Monetary Union, the name króna (meaning crown) comes from the Latin word corona ("crown"). The name "Icelandic crown" is sometimes used alternatively, for example in the financial markets.

Iceland is not a member of the European Union and does not use the euro. The Icelandic currency is a low volume world currency, strongly managed by its central bank. Its value in terms of other currencies has historically been swift to change, for example against the US and Canadian dollars, and the other Nordic currencies (Swedish krona, Norwegian krone, Danish krone), and the euro. For example, during the first half of 2006, the Icelandic krona ranged between 50 and 80 per US dollar. Prior to the currency's collapse in October 2008, the krona was considered overvalued. In most shops electronic payment is accepted. Other currencies are very rarely accepted in Iceland. A notable exception is Keflavík International Airport (which has many transfer passengers), where the US dollar, euro and some other currencies are accepted by all merchants. Certain stores in central Reykjavík accept some foreign currencies. Iceland's per capita computer usage is among the highest in the world, far higher than the UK or US. The saturation of technology in Iceland has had ramifications in the monetary system: a very high proportion of payments in Iceland are made electronically, e. g. by debit or credit cards or online bank transfers. The largest denomination banknote, the 10000 krona note (around €83 in July 2017), has a relatively low value; therefore, most of Iceland's high value trades are done in electronic transfers and in other currencies.

In October 2008, the financial crisis of 2007–2008 brought about a collapse of the Icelandic banking sector. The value of the Icelandic krona dropped, and on 7 October 2008 the Icelandic Central Bank attempted to peg it at 131 against the euro. This peg was abandoned the next day. The krona later dropped again and to 340 against the euro before trade in the currency was suspended (by comparison, the rate at the start of 2008 was about 90 krona to the euro). After a period of tentative, very low volume international trading in the krona, activity had been expected to pick up again throughout November 2008, albeit still with low liquidity, as Iceland secured an International Monetary Fund loan. However, as of January 2009 the krona was still not being traded regularly, with the European Central Bank (ECB) reference rate being set only intermittently, the last time on 3 December 2008 at 290 krona per euro. The Icelandic krona similarly fell in value against the US dollar, from around 50 to 80 per dollar to about 110–115 per dollar; by mid November 2008 it had continued to lower to 135 to the dollar. As of 2 April 2009, the value hovered around 119 per dollar, roughly maintaining that value over the next two years with 23 March 2011, prices around 114 per dollar. With this, the previously high costs for foreign traders and tourists dropped, which Iceland's trade and tourism industry undertook to exploit. In July 2008, a Big Mac cost the equivalent of nearly US$6, versus $3.57 in the US.

Theoretically, the adoption of the euro could have several advantages. Adopting what is perceived by some as a historically stronger currency might help Iceland to "avoid the turbulence surrounding speculations in international financial markets". In addition, Icelandic economists listed several arguments in favour of the euro before the crisis. "In terms of growth potentials and welfare, the euro could be expected to bring lower long term interest rates [ ]. This would of course increase capital investment and labour productivity. The euro might lower consumer prices by facilitating a comparison with other euro countries." Another poll produced for the Icelandic newspaper Fréttablaðið and released on 30 September 2007 showed 56% opposed to euro adoption and 44% in favour. In January 2008, a poll by the Icelandic Chamber of Commerce put support for Iceland to abandon the krona for another currency at 63%. A number of companies in Iceland, such as Össur, have started to pay their employees in euros or US dollars, mainly due to the high inflation and high volatility. The financial crisis prompted further calls for Iceland to join the Eurozone. In January 2009, one senior Icelandic official stated that due to the crisis "the krona is dead. We need a new currency. The only serious option is the euro." In March 2009, a report by Iceland's Minister for Foreign Affairs, Össur Skarphédinsson, considered three options: retaining the krona, adopting the euro without joining the EU and adopting the euro through EU membership. The report recommended the third option. An economic study of the impact of the adoption of the euro by Iceland found that the Icelandic krona acts both as a barrier and buffer to international trade, and that by joining the EU and adopting the euro, Icelandic international trade might be 60% higher. In July 2009, the Alþingi (parliament) narrowly voted to apply for EU membership, but that application has been frozen since 2013 (see accession of Iceland to the European Union). In March 2015, Icelandic authorities announced by letter to the Presidency of the Council of the European Union that Iceland should not be seen as candidate state, and that there were no specific plans to continue any membership process. Leaders of the ruling government parties have also stated that the krona will remain as Iceland's currency for at least the foreseeable future.

As of 31 May 2023, US$1 was worth 140.44 Icelandic krona.