TRY/ISK: what to know
The TRY/ISK rate shows how much ISK you get for 1 TRY. Right now, 1 TRY buys 2.4943 ISK at the mid-market rate. In the other direction, 1 ISK is worth 0.4009 TRY.
In the short term TRY is driven mainly by high inflation and central-bank policy, while ISK responds to tourism, fishing and commodity prices.
The Turkish Lira (TRY) is issued by Central Bank of Türkiye. In 2005 Türkiye removed six zeros: 1,000,000 old lira became 1 new lira. 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.