The Central Bank of Iceland will increase its foreign currency purchases in the interbank market from EUR 6 million to EUR 12 million per week from Sept. 15, 2026, because the Treasury’s foreign currency needs have exceeded earlier estimates. The purchases are intended to meet the Treasury’s ordinary needs while maintaining Iceland’s international reserves. The bank will buy EUR 3 million shortly after the market opens each Tuesday through Friday. The program, under which the bank has bought the equivalent of ISK 15 billion since May 2026, is scheduled to end on Oct. 15, 2026, unless circumstances warrant a review. The bank does not expect the purchases to materially affect the króna’s exchange rate and may conduct separate market transactions to mitigate short term exchange rate volatility.
2026-09-11Central Bank of Iceland
Central Bank of Iceland doubles weekly foreign currency purchases to EUR 12 million
The Central Bank of Iceland will double its weekly foreign currency purchases to EUR 12 million from Sept. 15, 2026, reflecting higher than expected Treasury needs. The program is scheduled to end on Oct. 15, and the bank does not expect it to materially affect the króna’s exchange rate.