Talk:Icelandic króna

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Changed capitalization within article. This word is not normally capitalized on domain:is sites or anywhere else, except in circumstances where a word like "Dollar" or "Pound" would be capitalized.

I think the article should be moved to "Icelandic króna" as well; supposedly all the old links would still work in this case, changing only which ones go directly to the article and which ones are redirected. Is it normal to try to make all of them direct when making a change like this? Gene Nygaard 14:13, 19 Dec 2004 (UTC)

Yes, let's move it to use lower case. By all means. I can't see anyone objecting to that. - Haukur Þorgeirsson 21:08, 10 November 2005 (UTC)

Moved per discussion. This is also in compliance with the Wikipedia Manual of Style. -- Arwel (talk) 23:01, 10 November 2005 (UTC)

Under Currency Issues it seemed a little odd to say that tourists would "have little need or desire" for Icelandic currency, both because surely one still needs coins for some machines (you need coins to ride the bus, or buy a Coke from a machine, or do laundry), and because it doesn't seem the article's writers can really know whether a tourist will desire local currency or not; surely some visitors to any country prefer to use local currency simply as part of getting to know the place they're visiting, just as surely as others prefer not to. Janni 23:25, 23 April 2007 (UTC)

You should rewrite it a bit, but don't remove it. It's very true, I've worked in the turist industry and they rarely had any cash on them. --Steinninn ^talk 16:40, 26 May 2007 (UTC)

But not all tourists travel through package tours, or have any contact with the tourist industry. Nearly all of the fellow tourists we met in Iceland had some cash on hand--the only exceptions were a few folks on a very structured package tour we met. I think if you looked at the visitors who are self-guided--and especially at those staying in guest houses and youth hostels--you'd get a very different picture of the use of currency by visitors. Janni 22:17, 30 May 2007 (UTC)

ISJ or ISC

Somehow I thought that the old krónar was ISC, but the article says ISJ. Dose anyone have a reference? --Steinninn ^talk 16:40, 26 May 2007 (UTC)

I thought it was ISK? -- unsigned

Text does not seem to make sense

It is also worth noting that the largest denomination banknote, the 5000 króna note, represents a value somewhat around $35 US (Oct, 2008). This, coupled with the generally extremely high prices in Iceland (a mid-range dinner for two in Iceland, without drinks or dessert, can easily exceed 5000 krónur), means that banknotes are not issued in sizes conducive for larger transactions.

1) Is the point being made that the highest-denomination banknote with equivalent value of $35 is much lower than expected? It doesn't seem that way to me; in the UK the highest-denomination note in common use is only £20 (there is a £50 note, but you rarely see them used in everyday transactions).

2) A mid-range dinner for two costing the equivalent of $35 does not seem excessively high as the article seems to be making out. That is only about £10 each in UK money, which is by no means an excessive amount to pay for dinner in a restaurant.

I know that the recent collapse in the currency will impact all these conversion rates and comparisons, but as written this text does not really seem to make sense.86.152.243.147 (talk) 20:44, 31 October 2008 (UTC)

The $35 rate is a recent update resulting from the collapse of the currency. It was near $100 when the text was originally written. Karl (talk) 09:32, 3 November 2008 (UTC)

OK, I have tried to reword this passage to make it more coherent. 86.138.104.239 (talk) 12:42, 6 November 2008 (UTC)

Trading of the ISK

I will remove the sentence about the krona having resumed trading, because, apart from that one 240 rate quote that a couple of newspapers seem to be quoting, I can find no hard evidence that the krona is being traded, at least not officially. The ECB [1] still has its rate frozen at 305, and I can find no real evidence of trading on the usual news sources. Passportguy (talk) 11:35, 4 November 2008 (UTC)

If you're sure of your facts, you may want to also amend the article 2008–2012 Icelandic financial crisis which makes the same claim. —Preceding unsigned comment added by 86.134.43.202 (talk) 02:00, 6 November 2008 (UTC)

There is at least something weird with how exchange rates are set:

• ECB still don't give any updated exchange rates.
• This article has links to different currency rate sites (see the "Current ISK exchange rates" section). However, the different sites give different answers:

Yahoo: 290.8856 ISK/EUR

XE: 146.641 ISK/EUR

OANDA: 144.568 ISK/EUR

VISA[2]: 145 ISK/EUR (not listed in the "Current ISK exchange rates" section)

The sites may update their rates at different points of the day, and may use slightly different sources for their data, so I don't see anything strange in the 145/145/147 difference between OANDA, VISA and XE. However, that doesn't explain why Yahoo's rate is so different. Maybe the currency still isn't traded normally? (212.247.11.156 (talk) 19:37, 14 March 2009 (UTC))

No, the ISK still isn't trading normally. Tight capital controls were introduced at the end of November 2008 [3] and recently renewed [4]. The Yahoo rate is effectively a speculative offshore rate: people who are willing to buy króna assets while not knowing when they will be able to convert them into hard currency. The other rates are the onshore rates, which are effectively controlled by the Central Bank of Iceland. Physchim62 (talk) 00:11, 15 March 2009 (UTC)

króna vs krónur ?

"The króna later fell to 340 against the euro before trade in the currency was suspended[6] (by comparison, the rate at the start of 2008 was about 90 krónur to the euro" —Preceding unsigned comment added by 75.8.93.34 (talk) 17:03, 11 November 2009 (UTC)

Use both as per Icelandic custom; surely it isn't that hard to differentiate between singular and plural? BodvarBjarki (talk) 12:26, 19 February 2010 (UTC)

Hyperinflation

There are regular claims that the ISK suffered from hyperinflation, but I can not find any verifiable sources to that. By looking through changes in CPI as maintained by Statistics Iceland I find that monthly inflation has never been close to 50% and only seldom passed 10%.[5] As it is I've changed "hyperinflation" for "high inflation". If it's changed back some references would be welcome.

89.17.132.215 (talk) 12:47, 1 March 2017 (UTC)

A new source of images needs to be found

I stumbled across this article and saw rows of red circles put in my myWOT. I investigated and banknote.ws seems to be part of the zeus botnet so we really need a new source of the images --Liiiink (talk) 01:29, 6 September 2012 (UTC)

File:ISK 10 note.jpg Nominated for Deletion

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File:Isl Krone.JPG Nominated for Deletion

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File:Iceland Krona Coins.jpg Nominated for Deletion

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File:Isl 500 Kroner.JPG Nominated for Deletion

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Smallest country with own monetary policy

I've returned the referenced claim that "Iceland is the smallest country to have its own currency and monetary policy", but I'm also sympathetic to Stidmatt's view that this it not true. I say, let's fight sources with sources. Can anyone find a reliable source that directly contradicts this? The sources here are reliable (specifically the third one which is the only one that says monetary policy), but we could do better. I imagine this sort of question has been dealt with in textbooks and academic literature. I'd like this to be resolved so that at the end of the day one of our currency articles it's the smallest. – Finnusertop (talk ⋅ contribs) 12:13, 21 February 2019 (UTC)

"I say, let's fight sources with sources." Agreed. I presume that it would hard to substantiate that Iceland truly is at any given time the smallest country with its own currency and monetary policy, given that there are nearly 200 countries to keep tabs on, but this is what the cited sources say. Snooganssnoogans (talk) 12:19, 21 February 2019 (UTC)

The Seychelles rupee was only floated in 2008, so these 2011 sources might just be a bit behind. This 2018 article in Icelandic says: "The risk associated with having the second smallest independant monetary system (second only to the Seychelles [...]) has been increasing". I haven't been able to find a source directly comparing currencies and country sizes. – Þjarkur (talk) 13:46, 21 February 2019 (UTC)

Good find, Þjarkur. I'm happy if we cite that source here and in Seychellois rupee. – Finnusertop (talk ⋅ contribs) 17:24, 21 February 2019 (UTC)

I would suggest this needs more research. The claim would seem to be obsolete. A check of the Wikipedia articles concerned would indicate that Samoa (population 195,843, currency Samoan tālā regulated by Central Bank of Samoa), Vanuatu (population 272,459, currency Vatu, regulated by the Reserve Bank of Vanuatu) are both smaller population than Iceland, with their own monetary policies, and both floating against world curremcies. Tonga (population 100,651, currency Pa'anga, controlled by National Reserve Bank of Tonga), may not qualify, being non-convertible and pegged to a basket of other currencies - I'm not sure. Ditto Barbados (population 277,821, currency Barbadian Dollar, regulated by Central Bank of Barbados) - since it is pegged to the USD. But as far as I can see, Seychelles would be smallest by population, Samoa second, Vanuatu third, and Iceland 4th, assuming the Tonga and Barbados don't qualify. There may be others. I guess it may depend on what is meant by monetary policy? Or are the sources out of date? Ptilinopus (talk) 06:20, 1 February 2020 (UTC)

This is an Icelandic myth that has been repeatedly pushed by those most vocal about Iceland joining the EU and adopting the Euro. Just by browsing Wikipedia one can find multiple currencies in countries less populous than Iceland as well as countries with smaller economies, or smaller in area. The repeated claim of Iceland being "the smallest country..." has never really been defined. 31.209.156.44 (talk) 20:51, 14 February 2023 (UTC)

Removal of image columns?

None of the image columns in the coins table show any images. The banknotes table doesn't have image columns in the first place. Shouldn't the image columns in the coins table be removed? JIP | Talk 00:49, 8 September 2023 (UTC)