The time of the listing and publication of the official reference exchange rate of the Icelandic króna will change today, Monday 31 August 2020. From today onwards, the Central Bank of Iceland will fix the official reference exchange rate of the króna at 14:15 hrs. Central European Time (CET) – currently 12:15 hrs. Icelandic time – in line with the practice in neighbouring countries. The reference exchange rate will then be published on the Central Bank’s website each business day at 16:00 hrs. Icelandic time and not at 11:00 hrs., as before.
It should be noted that the Central Bank of Iceland publishes currency exchange rates solely for information purposes and in satisfaction of legal requirements.
The new Rules on the Foreign Exchange Market, no. 600/2020, which took effect on 31 August 2020, can be found here (In Icelandic): Rules on the Foreign Exchange Market, no. 600/2020 (on the Law and Ministerial Gazette website).
See also the Bank’s press release of 18 June 2020: New Rules on the Foreign Exchange Market
