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Icelandic Krona

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Icelandic Krona
The currency of Iceland. It came into existence in 1981 after a revaluation of the first Icelandic krona. It is not a widely traded currency, and, while it is a floating currency, the Central Bank of Iceland manages it closely.


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The northern European nation's three McDonald's restaurants - all in the capital Reykjavik - will close on October 31, as the franchise owner gives in to falling profits caused by the collapse in the Icelandic krona.
He told Reuters that the decision to close the restaurants was mainly due to the severe depreciation of the Icelandic krona and high taxes on imported food.
The reason for this decision is the difficult economy and the collapse of the Icelandic krona.
 
 
 
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