Króna in chaos during Iceland's meltdown

Sedlabanki pegged the króna to a trade-weighted basket of currencies on October 7 to avoid the collapse of the currency, but it U-turned the next day in response to criticism. The króna was fixed at EUR/ISK 131, based on a basket weighting the dollar, euro and sterling at 76% with the remainder split between the Nordic currencies (excluding Finland), yen, Swiss franc and Canadian dollar.

Spot, fowards and options trading in the currency came to a standstill last Wednesday, as the country's

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: