ARS/ISK: what to know
The ARS/ISK rate shows how much ISK you get for 1 ARS. Right now, 1 ARS buys 0.0797 ISK at the mid-market rate. In the other direction, 1 ISK is worth 12.5524 ARS.
In the short term ARS is driven mainly by high inflation and economic policy, while ISK responds to tourism, fishing and commodity prices.
The Argentine Peso (ARS) is issued by Central Bank of Argentina. Argentina has battled high inflation repeatedly and carried out several redenominations. The Icelandic Krona (ISK) is issued by Central Bank of Iceland. After the 2008 crisis Iceland withdrew its cents (aurar) — only whole krónur circulate.
Use this mid-market figure as your benchmark: compare it with the rate your bank or broker quotes, and the difference is the margin you would pay.