Icelandic Krona
About Icelandic Krona
The Icelandic krona suffered dramatic losses in the 2008 financial crisis when Icelands banking system collapsed. The krona lost over half its value in weeks. Iceland responded by imposing capital controls that lasted until 2017. Icelandic banknotes feature historical figures from the Icelandic sagas. The Central Bank of Iceland was established in 1961. Iceland considered adopting the euro or Norwegian krone after the crisis but retained the krona.
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