About this pair
ISK/KRW: what to know
The ISK/KRW rate shows how much KRW you get for 1 ISK. Right now, 1 ISK buys 11.1583 KRW at the mid-market rate. In the other direction, 1 KRW is worth 0.0896 ISK.
In the short term ISK is driven mainly by tourism, fishing and commodity prices, while KRW responds to tech exports 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 South Korean Won (KRW) is issued by Bank of Korea. “Won” shares a root with yen and yuan, meaning “round”.
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.