Icelandic Krona Symbol: A Guide to ISK Currency

The Icelandic Krona, or ISK, is a currency that's both familiar and foreign to many of us. It's the official currency of Iceland and is used throughout the country.

The ISK symbol is unique and easy to recognize. It's a simple, one-letter symbol: "kr".

In Iceland, you'll see the ISK symbol used widely, from street signs to menus and store displays. It's a vital part of everyday life in the country.

You might enjoy: Euro to Isk Krona

The Icelandic króna has a rich history that dates back to the 19th century. Iceland was once a territory of Denmark, and the Danish krone was first introduced to Iceland in 1874.

The króna was initially a version of the Danish krone, but Iceland started printing its own version in 1885. This changed after World War I when Iceland received autonomy from Denmark.

The government began issuing the Icelandic króna in 1918, which was used separately from the existing Danish krone. The country issued its first coins in 1922, marking a significant milestone in the króna's history.

For your interest: Husavik Iceland

Responsibility for issuing and maintaining the króna was assumed by the country's central bank in 1961. The minting of coins was transferred to the National Treasury in 1967.

The króna was revalued in 1981, and coins were officially taken out of circulation as of 2003. This means that coins are no longer considered legal tender in Iceland.

The word króna is Scandinavian for "Crown", which is why these countries had kings and the currency had his crown on them. This is also why the Icelandic króna has earned the nickname "Icelandic Crown" in the financial markets.

Iceland kept the name króna when it became independent in 1944, but it replaced the crown on the currency with a coat of arms. Today, the króna is a unique and fascinating symbol of Icelandic culture and history.

On a similar theme: Vik Iceland

The Icelandic króna is the country's official currency, and as a traveler, you'll want to know how to make the most of your money. You can save even more by requesting a tax-free receipt at each store.

Purchases of at least 6,000 ISK are eligible for tax-free shopping. The general VAT is 24%, but for food and books, it's a lower 11%.

Make sure to ask the clerk for your tax-free receipt, and they'll give you a form filled-out and signed along with the receipt. This is crucial, as it will not be valid if it's not signed.

You can use tax-free shopping for a wide range of items, including clothes, souvenirs, books, and food. Just remember that duty-free does not apply to services like spas, car rental services, or tour guides.

Recommended read: Ticker Symbol S