Iceland's currency is Icelandic krona (ISK). All major banks and also some hotels offer exchange services. Cash can be also easily obtained at ATMs throughout the country, particularly using MasterCard or Visa.

Travelers checks may be exchanged at banks; the recommended currency, giving the best exchange rate is US dollar.

Major credit cards (MasterCard and Visa) are accepted almost everywhere, even in small establishments. American Express or Diners Club are less common.

Banking hours are usually Mon - Fri, 9:00 am - 4:00 pm.

Visitors can claim a refund of the value-added-tax (VAT), of up to approximately 20%, when leaving the country. Purchases should be made in a store that displays a "Tax-free Shopping", with a minimum purchase of 4,000 kronas (appx. US $35). Ask for Iceland Refund Check at the time of purchase. The check can be refunded at the airport, provided that you show the purchased goods, receipt, and proof of a non-Icelandic permanent residency.

There is a duty-free store at the airport for arriving passengers, particularly popular among those who would like to buy cheaper alcohol, very expensive elsewhere in Iceland.

Current Icelandic Krona Rates

For other currencies or conversion amounts go to Currency Converter