Commerzbank AG, Germany’s second-biggest bank, said yesterday there is “no active market” in the krona. The last quoted price was 340 per euro, compared with 122 a month ago.
Here is the link. I’m starting to wonder if I should visit for a weekend; it’s one of my favorite countries. Will they let me bring my own food?
No active market at Commerzbank, maybe. But according to Bloomberg the Icelandic banks are doing brisk FX business between themselves. Current exchange rate is only about 150.
I was there a few weeks ago and Customs didn’t stop me for anything, so I and my week’s worth of hiking rations got in without any trouble or questions fees. Might be worth another visit.
You should! It’s crazy-cheap right now, and they apparently need your tourism dollars (I mean, even denominated in dollars). And…Iceland! Still gorgeous.
I think you should take a LOT of food and sell it for hard currency only!
I’ve always wanted to visit Iceland but haven’t been able to afford it yet.
Just wondering – are its financial difficulties likely to make Iceland more
affordable as a vacation spot or less so?
We I think you should not worry, we crave your dollars
There will not be shortage of food here any time soon. At the worst it will be the Icelandic fish. There is from 1-3 tons per person per year of fish caught in Iceland. The agriculture is great, enough of electricity to grow vegetables all around the year.
The British used Terror low to freeze assets in GB, which is incredible. This is the main trouble now as currency for export is frozen in UK and not delivered to Iceland.
But you really should not worry about a thing, for normal Icelanders are not being affected in there day to day life.
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