What currency is used in Iceland?

The official currency and legal tender of Iceland is the Icelandic krona

If you're travelling to Iceland you'll need the local currency: Icelandic Krona (ISK).

Iceland is not a member of the EU so euros are not widely used, although some larger hotels, restaurants and shops in Reykjavik may accept euros at a heavily inflated exchange rate.

Spending money in Iceland

Iceland is an island with very little natural resources which means everything has to be imported. As a result, prices are very expensive and Iceland is generally an expensive destination to visit.

The cost of living is around 44% higher than the UK according to Numbeo and travel agents recommend you budget around £90-100 per person per day if you're planning a trip.

Where to get the best Icelandic krona exchange rate

We can help you to maximise your spending money by getting a good deal on your currency. Check out our Icelandic krona comparisons for a full roundup of today's best Icelandic krona exchange rates from the UK's biggest currency suppliers.

Adam Silveston

Adam is a writer for Compare Holiday Money.

Published on 12 August 2016
Iceland, Isk, Icelandic Krona

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