The Central Bank of Iceland published its 2024 summary report on the foreign exchange market, exchange rate developments and international reserves, reporting an appreciation of the króna over the year, relatively limited exchange rate volatility and a year-on-year decline in total interbank foreign exchange market turnover. The report notes the Bank intervened once in the foreign exchange market during 2024 to reduce fluctuations in the króna’s exchange rate. International reserves stood at ISK 886 billion at year-end, equivalent to 20% of gross domestic product, unchanged from the prior year.
Central Bank of Iceland 2025-01-20
Central Bank of Iceland reports 2024 króna appreciation, limited volatility and ISK 886 billion international reserves
The Central Bank of Iceland's 2024 summary report highlights an appreciation of the króna, limited exchange rate volatility, and a decline in interbank foreign exchange market turnover, with international reserves at ISK 886 billion, or 20% of GDP. The Bank intervened once in the foreign exchange market to stabilize the króna's exchange rate.