Offshore króna market trading thinly

- By FX Markets Staff
- @FXMarkets_
- 22 Dec 2008

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The country's central bank, Sedlabanki, relaxed capital controls, enabling certain companies to begin converting króna funds into foreign currencies from December 16 (see box, page 8). The controls were initially introduced to stabilise the króna at the end of November, prohibiting the exchange of króna funds for foreign currencies (FX Week, December 8).

"There was an immediate reaction with a surge of cashflows, as a lot of money had been trapped in the króna, but the offshore market is still

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