First month of non-intervention by the Central Bank since before the pandemic
The Icelandic króna strengthened against the currencies of Iceland’s main trading partners in November, apart from the US dollar.
At the end of November, the euro stood at ISK 147.0 compared to 149.8 at the end of October and the US dollar at 129.8 compared to 129.4 at the end of October. The trade-weighted index fell (the króna strengthened) by 1.9% in November.
Turnover in the foreign exchange market was ISK 16.4 bn. (EUR 101 m.) in November and decreased by 32% between months.
The Central Bank did not intervene in the interbank market for foreign exchange in November. This is the first month since February 2020, i.e. before the pandemic, which the CBI does not intervene. The CBI's net sale of foreign currency from February 2020 is ISK 155 bn. (EUR 966m.).