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Overview of the Icelandic FX market

In April, the Icelandic króna (ISK) depreciated slightly against the currencies of all main trading partners, except for the Swedish krona. At the end of day yesterday (6.5.2019), the euro stood at 135.9 and had appreciated by 2.1% since the beginning of the year. The US dollar stood at 121.4 and had appreciated by 4.7% since the beginning of the year. Turnover in the FX market in April was ISK12.4bn as compared with ISK 32.2bn in March.

The Central Bank did not intervene in the market in April. The Bank's last intervention was when WOW air ceased operations on 28 March, when it sold 6 million euros (ISK 0.8bn).

Icelandic FX market - May 2019

 

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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