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About the currency
Coins and Notes
Still getting the Króna confused with Coronas? We’re here to help. The Króna is divided into 100 aurar, although coins in any denomination less than one króna have not been in circulation since 2003. Icelandic coins, therefore, come in 1, 5, 50, and 100 kronor. In terms of notes, Iceland has 500, 1000, 2000, 5000 and 10,000 króna notes (for the ballers).
Facts about the currency
- From 1874 until the beginning of WWI, the Danish krone was the currency of choice. It wasn’t until the end of the Scandinavian Monetary Union (and the beginning of greater Icelandic autonomy) that the Icelandic króna was first issued.
- In 1981, the Icelandic Króna was revalued, with 100 old króna being valued at 1 new Icelandic Króna.
- A survey of 28,000 Icelanders in 2016 revealed that only 30% believe the Icelandic króna will be the future currency of Iceland.