ISK ap­pre­ci­ated in May

The Icelandic króna appreciated against the currencies of our main trading partners in May and has not been that strong since Mars 2020. Turnover in the interbank foreign exchange market was ISK 35.5bn in May. The CBI's share of this was ISK 2.1 bn, or 5.8% of total turnover.
7 June 2021 - Landsbankinn

The Icelandic króna appreciated against the currencies of our main trading partners in May. At the end of the month, the euro stood at ISK 147.6, compared to ISK 149.6 at the end of April. The US dollar stood at ISK 121.0 at the end of May, compared to ISK 123.8 at the end of April.

Turnover in the interbank foreign exchange market was ISK 35.5bn (EUR 237m) in May, which is similiar to April. The CBI's share of this amount was ISK 2.1 bn (EUR 14m), or 5.8% of total turnover. This is the CBI's lowest involvement since February 2020, when the CBI did not intervene in the market at all.

The CBI intervened two days in May, on Tuesday 25 May it bought EUR 2m (ISK 0.3 bn) and on Thursday 27 May it bought EUR 12m (ISK 1.8bn).

ISK appreciated in May

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