Tax-Free ShoppingĮxcellent exchange rates mean that Iceland is also a great destination for shopping. You can exchange your money at the Landsbankinn bank at the airport on arrival and departure. ![]() It is best to exchange your money into ISK in Iceland, and re-exchange any surplus before you leave, as foreign banks may not deal in ISK. Banks will advance cash against main debit and credit cards, exchange notes and cash travellers cheques. However, if you intend to visit isolated villages, or stay in rural farmhouse accommodation in Iceland, it’s a good idea to carry enough cash to tide you over.ĪTMs – Hraðbanki in Icelandic, or Cashpoints, are easily found in cities and towns. Cards are commonly used in Iceland even for quite small transactions. Almost every shop and most businesses accept Visa and MasterCard credit cards although American Express is not as common. Some shops catering to tourists will accept payment in US dollars or euro but not necessarily at the best rate. Currency ExchangeĪll banks can exchange currency and most hotels, but you are likely to get a better rate at the bank. Information on current exchange rate in English can be found on the website of the Central Bank of Iceland. The Central Bank of Iceland issues the daily rate of exchange. Coin denominations are: 1 króna 5, 10, 50, and 100 krónur. ![]() The international currency abbreviation is ISK, but in Iceland you will see “kr.” before or after the price of things. ![]() The Icelandic word in the singular, “króna”, becomes “krónur” in plural. The unit of currency used in Iceland is the Icelandic krona, ISK – Íslensk króna in Icelandic.
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