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- Economic Forecast

Overview of the Icelandic FX market

Since the beginning of the year, the Icelandic króna (ISK) has depreciated against the currencies of all our main trading partners, with the exception of the Swedish krona. In total, the ISK has lost 10% against the euro and 14% against the US dollar since last summer.

On Tuesday, removal of capital controls on holders of offshore krónur and reduction of special reserve requirement on capital inflows took effect. Some outflow seems to have followed, but the Central Bank intervened on the market and sold EUR 18m (ISK 2.5b) that day.

Icelandic FX market - March 2018

 

Weekly bulletin - 02 June 2020 10:03 AM

Icelandic Economic Weekly: Tuesday 2 June 2020

The Icelandic economy contracted by 1.2% year-on-year in Q1. The CPI based on prices in May increased by 0.54% MoM, bringing the headline number to 2.6%. The trade balance and the current account balance were both slightly positive in Q1. The Treasury issued bonds in euros.


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Forsíða - 28 May 2020 04:41 PM

Landsbankinn lowers interest rates

Landsbankinn has recently established itself as the financial undertaking that offers the most competitive lending rates in Iceland. Since the Central Bank of Iceland embarked on the current rate-cutting programme, Landsbankinn has generally lowered lending rates more than deposit rates.


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Forsíða - 27 May 2020 12:10 PM

Bolungarvík outlet merges into Ísafjörður branch

Landsbankinn’s outlet in Bolungarvík will merge into the Ísafjörður branch on 1 July.


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