About this pair
ISK/JPY: what to know
The ISK/JPY rate shows how much JPY you get for 1 ISK. Right now, 1 ISK buys 1.2768 JPY at the mid-market rate. In the other direction, 1 JPY is worth 0.7832 ISK.
In the short term ISK is driven mainly by tourism, fishing and commodity prices, while JPY responds to Bank of Japan policy and global risk appetite.
The Icelandic Krona (ISK) is issued by Central Bank of Iceland. After the 2008 crisis Iceland withdrew its cents (aurar) — only whole krónur circulate. The Japanese Yen (JPY) is issued by Bank of Japan. “Yen” literally means “round object”.
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.