Notes & coins in Iceland
The official currency of Iceland is the Icelandic króna (ISK), often seen as "kr". There are banknotes to the value of 500, 1000, 2000, 5000 and 10000 ISK, and coins worth 1, 5, 10, 50 and 100 coins.
Cash or card?
The only place where you will have to ensure you have cash is to use buses in Reykjavik. The buses don't accept card and you'll have to pay with exact change. However, you can pay for bus tickets in advance by card through the official Icelandic public transport application and in some supermarkets.
Where to exchange money in Iceland?
Due to how little cash is used in Iceland, it can be difficult to find currency exchanges in cities like Reykjavik or Akureyri, and pretty much impossible in smaller towns like Stykkishólmur and Siglufjordur. If you want cash in the local currency, the best option is to withdraw money from an ATM in Iceland - as always, make sure to check your overseas charges with your bank first, and to inform them that you'll be travelling abroad, to avoid any nasty surprises!
At the time of writing, the exchange rates for the Icelandic króna are as follows:
- 1 EUR = 124 ISK
- 1 USD = 107 ISK
- 1 GBP = 141 ISK
To put it into context, you can check out our guide to prices in Iceland here.