About this pair
NOK/ISK: what to know
The NOK/ISK rate shows how much ISK you get for 1 NOK. Right now, 1 NOK buys 12.9443 ISK at the mid-market rate. In the other direction, 1 ISK is worth 0.0773 NOK.
In the short term NOK is driven mainly by oil and gas prices, while ISK responds to tourism, fishing and commodity prices.
The Norwegian Krone (NOK) is issued by Norges Bank. “Krone” means “crown”. 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.