Concept

Icelandic króna

Summary
The króna ˈkʰrouːna or krona (sometimes called Icelandic crown; sign: kr; code: ISK) is the currency of Iceland. Iceland is the second-smallest country by population, after the Seychelles, to have its own currency and monetary policy. Name Like the Nordic currencies (such as the Danish krone, Swedish krona and Norwegian krone) that participated in the historical Scandinavian Monetary Union, the name króna (meaning crown) comes from the Latin word corona ("crown"). The name "Icelandic crown" is sometimes used alternatively, for example in the financial markets. First krona, 1874–1981 The Danish krone was introduced to Iceland in 1874, replacing the earlier Danish currency, the rigsdaler. In 1885, Iceland began issuing its own banknotes. The Icelandic krona separated from the Danish krone after the dissolution of the Scandinavian Monetary Union at the start of World War I and Icelandic sovereignty from Denmark in 1918. The first coins were issued in 1922. Icel
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