The Icelandic króna (ISK) is the currency of one of Europe's most expensive countries, where almost everything is paid for by card. Here's how to properly prepare your currency exchange before you leave.
The Icelandic króna (ISK) in brief
Iceland uses neither the euro nor the Danish krone: its official currency is the Icelandic króna, whose international code is ISK and whose symbol is "kr". The country is not part of the eurozone and keeps a national currency whose value floats freely on the markets, with no fixed parity to the euro. In practice, the exchange rate changes every day: one euro is generally worth several dozen krónur, which results in prices displayed with large numbers (a coffee may be shown at several hundred kr). This lack of fixed parity also explains why the rate can vary significantly from one tourist season to another.
The Icelandic króna remains a less common currency in France. It circulates little and not all bureaux de change keep it permanently in stock. It is precisely for this type of currency that it is strongly advised to reserve your banknotes online in advance, in order to guarantee availability at the time of pickup.
Iceland, a country almost without cash
Iceland is one of the most advanced countries in the world when it comes to cashless payment. Bank cards are accepted everywhere: restaurants, isolated petrol stations, small village shops, car parks, and even many cash machines out in the wild. Many travellers spend an entire week there without ever pulling out a banknote. Contactless and mobile payments are the norm, and some businesses simply no longer accept cash.
So should you bring krónur? Yes, but sensibly. Keeping a small cash reserve is still useful for the occasional tip, a local market, a food truck in a remote area, or in the event of a payment terminal failure in the isolated regions of the fjords or the highlands. The ideal approach is therefore to combine a card with no foreign transaction fees and a small amount of krónur exchanged before departure, so you can travel with peace of mind right from your landing at Keflavík.
An expensive country: plan your budget
Iceland has a justified reputation as a costly destination. The cost of living is high there, particularly for dining, accommodation, drinks and excursions (hot springs, glaciers, whale watching). Since most things are paid for by card, pay particular attention to your bank's fees: exchange commissions, fixed charges per transaction and the rate applied automatically. Always decline the "dynamic currency conversion" offered by certain terminals (payment in euros rather than in krónur), which is often disadvantageous.
For the portion you wish to have in cash, exchange it in France on good terms rather than at the Icelandic airport, where rates are rarely attractive. Discover all the currencies we offer on our currencies page and plan your ISK reserve before the big departure.
Exchanging your Icelandic krónur at Paris Change
Paris Change is a bureau de change approved by the ACPR (the French Prudential Supervision and Resolution Authority, attached to the Banque de France), a guarantee of reliability and compliance. Our single shop is located at 4 Boulevard Saint-Michel, 75005 Paris, in the heart of the Latin Quarter, accessible via the Saint-Michel metro (line 4) and the RER B/C. We are open 7 days a week (Monday to Saturday from 9am to 8pm, Sunday from 10am to 7:30pm) and we exchange currency with no commission, across more than 53 currencies.
As the Icelandic króna is one of the less requested currencies, we strongly recommend that you reserve your banknotes online and then come and collect them in the shop. This way you secure the availability of the desired amount and save time at the counter.
On the regulatory side, bear in mind that beyond €10,000 in cash (all currencies combined), a customs declaration is mandatory upon entering and leaving the European Union. For a tourist trip, the amounts involved generally remain well below this threshold.
Frequently asked questions
How many Icelandic krónur should you bring?
Since cards are accepted almost everywhere, a small cash reserve is enough for most stays: enough to cover the unexpected, a tip or a purchase in a remote area. The bulk of your spending will be paid by card.
Is it better to exchange in France or in Iceland?
Exchanging in France, in advance, spares you the unattractive rates of Icelandic airport counters. As the króna is a rare currency, reserve your banknotes online to be sure of their availability.
Can you pay in euros in Iceland?
No, the official currency is the Icelandic króna. A few very touristy sites sometimes accept the euro, but at an unfavourable rate: it is better to pay in krónur by card or in cash.
Prepare your trip with complete peace of mind: reserve your Icelandic krónur online and come collect them 7 days a week at 4 Boulevard Saint-Michel. Our advisers welcome you with no commission for a clear exchange at a fair rate.
