XAU/ISK: what to know
The XAU/ISK rate shows how much ISK you get for 1 XAU. Right now, 1 XAU buys 523,062.31 ISK at the mid-market rate. In the other direction, 1 ISK is worth 0.00000191182 XAU.
In the short term XAU is driven mainly by real interest rates, the dollar and safe-haven demand, while ISK responds to tourism, fishing and commodity prices.
The code “XAU” combines “X” (supranational) with gold’s chemical symbol Au. The Icelandic Krona (ISK) is issued by Central Bank of Iceland. After the 2008 crisis Iceland withdrew its cents (aurar) — only whole krónur circulate.
Because this pair involves a precious metal, the rate reflects global bullion prices per troy ounce. 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.