AUD/ISK: what to know
The AUD/ISK rate shows how much ISK you get for 1 AUD. Right now, 1 AUD buys 86.2575 ISK at the mid-market rate. In the other direction, 1 ISK is worth 0.0116 AUD.
In the short term AUD is driven mainly by commodity prices and Chinese demand, while ISK responds to tourism, fishing and commodity prices.
The Australian Dollar (AUD) is issued by Reserve Bank of Australia. Australia pioneered polymer banknotes in 1988 — more durable and harder to counterfeit. 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.