The króna unchanged against the euro in March

The Icelandic króna remained broadly unchanged against the euro in March but weakened against the US dollar. The Central Bank intervened four times in the foreign exchange market, buying euros twice and selling euros twice
Fimmþúsundkrónu seðlar
8 April 2022 - Landsbankinn

The Icelandic króna weakened against the euro in the first half of March. This weakening was reversed in the second half of the month and the króna was roughly in the same position against the euro at the end of March (EURISK = 142.0) as at the end of February (EURISK = 141.8).

The US dollar strengthened against the euro in March, so that the price of the US dollar rose in terms of ISK. The exchange rate index rose (the króna weakened) by 0.6%.

Turnover in the foreign exchange market was ISK 50.3bn. (EUR 350m) in the month which is similar to February. The Central Bank's (CBI) share of the month's turnover was ISK 12.6bn (EUR 87m), which represents 25% of total turnover.

The CBI intervened in the market four times in March. In the first half of the month, the CBI sold euros on two different days against weakening of the króna. In the second half of the month, the CBI bought euros on two separate days against strengthening of the króna.

The króna unchanged against the euro in March (PDF)

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