# Icelandic króna

> currency of Iceland

**Wikidata**: [Q131473](https://www.wikidata.org/wiki/Q131473)  
**Wikipedia**: [English](https://en.wikipedia.org/wiki/Icelandic_króna)  
**Source**: https://4ort.xyz/entity/icelandic-krona

## Summary
The Icelandic króna (ISK) is the official currency of Iceland, issued by the Central Bank of Iceland. It is a fiat currency that serves as the primary medium of exchange for goods and services within the country, alongside the euro, which is also widely accepted due to Iceland's membership in the European Economic Area.

## Key Facts
- **Currency Code**: ISK (ISO 4217 standard).
- **Issuing Authority**: Central Bank of Iceland.
- **Denominations**: Coins and banknotes in various denominations, including 1, 5, 10, 50, 100, 500, and 1000 króna.
- **Subunits**: The króna is divided into 100 aurar (plural of eyrir), though aurar are no longer in circulation.
- **Introduction**: The króna was introduced in 1918, replacing the Danish krone, following Iceland's independence from Denmark.
- **Manufacturer**: De La Rue, a British security printing company, produces Icelandic banknotes.
- **Symbol**: The currency symbol is "kr" (e.g., 100 kr).
- **Exchange Rate**: The króna is pegged to the euro under the European Monetary Union agreement.
- **Digital Representation**: The Unicode character for the króna is "💵".
- **Related Concepts**: The króna is a subclass of `currency`, `medium of exchange`, `unit of measurement`, and `money`.
- **Aliases**: Includes "Icelandic krona," "króna," and "ISK" in various languages.
- **Wikidata ID**: Q1351390.
- **Wikipedia Title**: Icelandic króna.
- **Sitelink Count**: 70 language editions.

## FAQs
**What is the Icelandic króna, and how does it function?**
The Icelandic króna (ISK) is the official currency of Iceland, serving as a medium of exchange, unit of account, and store of value. It is issued by the Central Bank of Iceland and is used for all financial transactions within the country, alongside the euro.

**Who issues the Icelandic króna, and what is its historical background?**
The Icelandic króna is issued by the Central Bank of Iceland. It was introduced in 1918, replacing the Danish krone, following Iceland's independence from Denmark. The currency has evolved with modern security features and digital representations.

**What denominations of Icelandic króna exist, and how are they produced?**
The króna is available in coins and banknotes, including denominations of 1, 5, 10, 50, 100, 500, and 1000 króna. Banknotes are produced by De La Rue, a British security printing company, ensuring high-quality and counterfeit-resistant currency.

**How is the Icelandic króna represented digitally and in international contexts?**
The króna is represented by the Unicode character "💵" and has an ISO 4217 code (ISK). It is also part of global financial systems, with the Central Bank of Iceland managing its issuance and exchange rates.

**What is the relationship between the Icelandic króna and the euro?**
The Icelandic króna is pegged to the euro under the European Monetary Union agreement, allowing for seamless financial transactions within the European Economic Area. The króna is also widely accepted alongside the euro in Iceland.

## Why It Matters
The Icelandic króna is a critical component of Iceland's economic and financial infrastructure, enabling trade, savings, and investment within the country. Its issuance by the Central Bank of Iceland ensures monetary stability and security, with banknotes produced by De La Rue to prevent counterfeiting. The króna's role in the European Economic Area highlights Iceland's integration into global financial systems, despite its unique status as a Nordic island nation. Its digital representation and international recognition underscore its importance in modern financial transactions.

## Notable For
- **Historical Significance**: The króna was introduced in 1918, marking Iceland's transition from Danish colonial rule to independence.
- **Security Features**: Banknotes are produced by De La Rue, a leader in security printing, ensuring high-quality and counterfeit-resistant currency.
- **Digital Representation**: The króna has a dedicated Unicode character ("💵"), reflecting its presence in digital communication.
- **Economic Integration**: The króna is pegged to the euro, allowing seamless financial transactions within the European Economic Area.
- **Global Recognition**: The króna is part of the ISO 4217 standard, ensuring its recognition in international financial systems.
- **Cultural Symbol**: The króna is a symbol of Iceland's economic identity and financial sovereignty.

## Body

### Currency Overview
The Icelandic króna (ISK) is the official currency of Iceland, issued by the Central Bank of Iceland. It serves as a medium of exchange, unit of account, and store of value within the country. The króna is divided into 100 aurar, though aurar are no longer in circulation. The currency is represented by the ISO 4217 code ISK and the Unicode character "💵".

### Historical Background
The Icelandic króna was introduced in 1918, replacing the Danish krone, following Iceland's independence from Denmark. This transition marked a significant milestone in Iceland's economic and political history, establishing the króna as the country's official currency. The Central Bank of Iceland has since managed the issuance and regulation of the króna.

### Denominations and Production
The króna is available in various denominations, including coins and banknotes. Common denominations are 1, 5, 10, 50, 100, 500, and 1000 króna. Banknotes are produced by De La Rue, a British security printing company known for its expertise in producing high-quality and counterfeit-resistant currency. The company's involvement ensures the integrity and security of Icelandic banknotes.

### Digital Representation and International Context
The Icelandic króna is represented digitally by the Unicode character "💵" and is part of the ISO 4217 standard. This ensures its recognition in global financial systems and digital transactions. The króna is also widely accepted alongside the euro in Iceland, reflecting the country's membership in the European Economic Area.

### Economic Integration and Exchange Rates
The Icelandic króna is pegged to the euro under the European Monetary Union agreement, allowing for seamless financial transactions within the European Economic Area. This integration highlights Iceland's commitment to economic stability and its role in the broader European financial landscape. The Central Bank of Iceland manages the króna's exchange rates and monetary policy.

### Related Concepts and Classifications
The Icelandic króna is a subclass of `currency`, `medium of exchange`, `unit of measurement`, and `money`. It is distinguished from other currencies by its unique historical background, production methods, and digital representation. The króna's aliases include "Icelandic krona," "króna," and "ISK" in various languages.

### Cultural and Symbolic Significance
The Icelandic króna holds cultural and symbolic significance as a representation of Iceland's economic identity and financial sovereignty. Its issuance by the Central Bank of Iceland and production by De La Rue underscore its importance in the country's financial infrastructure. The króna's role in global financial systems and its digital representation reflect its relevance in modern economic transactions.

## References

1. ISO 4217
2. Freebase Data Dumps. 2013
3. [Official Journal of the European Union](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=uriserv:OJ.C_.2021.093.01.0015.01.ENG)
4. FactGrid
5. GF WordNet