CINXE.COM

<!DOCTYPE html> <html lang="en"> <head> <meta charset="utf-8" /> <meta name="viewport" content="width=device-width, initial-scale=1.0" /> <meta property="og:title" content="FAQ" /> <meta property="og:image" content="http://sedlabanki.is/lisalib/getfile.aspx?itemid=c1887266-1c09-11e5-93fc-005056bc0bdb" /> <meta name="twitter:card" content="summary" /> <meta name="twitter:image" content="https://sedlabanki.is/lisalib/getfile.aspx?itemid=21832d3f-8324-11ea-911f-005056bc3d8f" /> <meta property="pageid" content="56a8b44d-a762-11e7-90f9-005056bc3d8f" /> <title>FAQ</title> <style type="text/css"> @import url(//fonts.googleapis.com/css?family=Open+Sans:300,400,600,700); </style> <link rel="stylesheet" type="text/css" href="/supportfiles/css/print.less?v=19000101000000" /> <link rel="stylesheet" type="text/css" href="/supportfiles/css/english.less?v=20201123101826" /> <meta name="description" content="Common questions regarding the exchange rate index as well as their answers." /> <link rel="stylesheet" type="text/css" href="/LisaLib/Css/Content.css"/> <script src="/LisaLib/GetSupportFile.aspx?id=fd35a1df-f7e0-11e4-93fd-005056bc2afe" type="text/javascript" ></script>  <script src="/LisaLib/GetSupportFile.aspx?id=c37fce20-1b43-11e5-93ff-005056bc2afe" type="text/javascript" ></script>  <script src="/LisaLib/GetSupportFile.aspx?id=fd35a1d9-f7e0-11e4-93fd-005056bc2afe" type="text/javascript" ></script>  <link rel="stylesheet" href="/LisaLib/GetSupportFile.aspx?id=fd35a20c-f7e0-11e4-93fd-005056bc2afe" type="text/css" />  <link rel="stylesheet" href="/LisaLib/GetSupportFile.aspx?id=30204444-fc03-11ea-9b8d-005056bccf91" tyoe="text/css" />  <link rel="stylesheet" href="//code.jquery.com/ui/1.10.1/themes/base/jquery-ui.css" />  <script src="//ajax.aspnetcdn.com/ajax/jquery.validate/1.11.1/jquery.validate.js"></script> <script src="//ajax.aspnetcdn.com/ajax/jquery.migrate/jquery-migrate-1.2.1.js"></script> <script src="//ajax.aspnetcdn.com/ajax/mvc/3.0/jquery.unobtrusive-ajax.js"></script> <script src="//ajax.aspnetcdn.com/ajax/mvc/3.0/jquery.validate.unobtrusive.js"></script> <script src="//code.jquery.com/ui/1.10.1/jquery-ui.js"></script>  <script>(function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start': new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0], j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src= 'https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f); })(window,document,'script','dataLayer','GTM-K26LJQZ');</script>   <script src="https://cdn.cookiehub.eu/c2/aa057b27.js"></script> <script type="text/javascript"> window.dataLayer = window.dataLayer || []; function gtag(){dataLayer.push(arguments);} gtag('consent', 'default', {'ad_storage': 'denied', 'analytics_storage': 'denied', 'wait_for_update': 500}); document.addEventListener("DOMContentLoaded", function(event) { var cpm = {}; window.cookiehub.load(cpm); }); </script>  </head> <body class="en">  <div id="fb-root"></div> <script>(function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = "//connect.facebook.net/is_IS/all.js#xfbml=1"; fjs.parentNode.insertBefore(js, fjs); }(document, 'script', 'facebook-jssdk'));</script> <div class="wrapper english"> <header class="navbar" role="banner" > <div class="container"> <div class="navbar-header"> <a class="navbar-brand mobile" href="/"><img src="/library/Templates/2019/logo_white.svg" alt="Logo Mobile" /></a> <a class="navbar-brand" href="/"><img src="/library/Templates/2019/logo.svg" alt="Go to frontpage - Central Bank of Iceland" /></a> <h1 class="visuallyhidden">Se冒labanki</h1> <div class="header-shortnav pull-right"> <ul class=""> <li><a href="/default.aspx?pageid=1bf92874-0542-11e5-93fa-005056bc0bdb">About the Bank</a></li> <li><a href="http://www.sedlabanki.is/hagtolur/opinber-gengisskraning/spurt-og-svarad/" class="icelandicLink">Icelandic</a></li> <li role="search" > <form action="/search/" method="get" class="searchHead"> <label for="searchBox" class="control-label sr-only">Search</label> <input type="text" name="searchstring" id="searchBox" placeholder="Search string" title="Search string"> <button type="submit" class="blueButton"><span class="sr-only">Search</span></button> </form> </li> </ul> </div> <nav class="navbar-right" id="sticky" role="navigation"><h2 class="sr-only" id="navDesktopLabel">Valmynd fyrir st忙rri skj谩i</h2><ul class="nav navbar-nav navbar-right"><li class="level1 first"><a href="/monetary-policy/" class="level1">Monetary Policy</a></li><li class="level1"><a href="/financial-stability/" class="level1">Financial Stability</a></li><li class="level1"><a href="/financial-supervision/" class="level1">Financial Supervision</a></li><li class="level1 childselected active dropdown"><a href="/statistics/" class="level1 childselected dropdown-toggle" data-toggle="dropdown">Statistics<b class="caret"></b></a><ul class="dropdown-menu"><li class="level2 first"><a href="/statistics/data/" class="level2">Data</a></li><li class="level2"><a href="https://www.cb.is/other/key-interest-rate/" class="level2">Interest rates</a></li><li class="level2"><a href="/statistics/release-calendar/" class="level2">Release calendar</a></li><li class="level2"><a href="/statistics/sdds/" class="level2">SDDS</a></li><li class="level2"><a href="/statistics/methodology/" class="level2">Methodology</a></li><li class="level2"><a href="/statistics/surveys/" class="level2">Surveys</a></li><li class="level2"><a href="/statistics/various-measures-of-inflation-expectations/" class="level2">Various measures of inflation expectations</a></li><li class="level2 childselected active dropdown"><a href="/statistics/official-exchange-rate/" class="level2 childselected dropdown-toggle" data-toggle="dropdown">Official exchange rate<b class="caret"></b></a><ul class="dropdown-menu"><li class="level3 first"><a href="/statistics/official-exchange-rate/trade-weighted-indices/" class="level3">Trade-weighted indices</a></li><li class="level3"><a href="/?PageId=6909b7bd-5189-45dd-bf5b-c76ea33496ef" class="level3">Time series</a></li><li class="level3"><a href="/statistics/official-exchange-rate/revised-currency-baskets/" class="level3">Revised currency baskets</a></li><li class="level3 selected active last"><a href="/statistics/official-exchange-rate/faq/" class="level3 selected">FAQ</a></li></ul></li><li class="level2 last"><a href="/statistics/xml-data/" class="level2">XML data</a></li></ul></li><li class="level1"><a href="/publications/" class="level1">Publications</a></li><li class="level1
 hidden
 last"><a href="/about-the-bank/central-bank-of-iceland/?" class="level1">About the Bank</a></li></ul></nav> </div> </div> <nav class="main" id="mobile"> <div class="bar"> <div class="wrapper"><div class="openNav"><div class="button"><a id="nav-toggle" href="#"><span></span><span class="sr-only">Opna valmynd</span></a></div></div><ul class="nav-collapse"><li data-pageid="4b641e8b-0391-11e5-93fd-005056bc2afe" class="leveling1 first"><div class="show-children"></div><a href="/monetary-policy/" class="leveling1">Monetary Policy</a><ul class="leveling1"><li class="leveling2" data-pageid="1a036506-0460-11e5-93fa-005056bc0bdb"><div class="show-children"></div><a href="/monetary-policy/monetary-policy-committee/" class="leveling2 first">Monetary Policy Committee</a><ul class="leveling2"><li class="leveling3" data-pageid="2d831eb1-0460-11e5-93fa-005056bc0bdb"><a href="/monetary-policy/monetary-policy-committee/meetings-with-parliamentary-committees-and-related-reports/" class="leveling3 first">Meetings with Parliamentary committees and related reports</a></li><li class="leveling3" data-pageid="5596b447-0460-11e5-93fa-005056bc0bdb"><a href="/monetary-policy/monetary-policy-committee/reports-to-the-government-on-inflation/" class="leveling3 last">Reports to the Government on inflation</a></li></ul></li><li class="leveling2" data-pageid="fdebb4c6-0398-11e5-93fd-005056bc2afe"><div class="show-children"></div><a href="/monetary-policy/inflation-target/" class="leveling2">Inflation target</a><ul class="leveling2"><li class="leveling3" data-pageid="457d047b-0f87-11e5-93fd-005056bc2afe"><a href="/monetary-policy/inflation-target/inflation/" class="leveling3 first">Inflation</a></li><li class="leveling3" data-pageid="ea11ff12-045f-11e5-93fa-005056bc0bdb"><a href="/monetary-policy/inflation-target/price-stability/" class="leveling3">Price stability</a></li><li class="leveling3" data-pageid="01914a2e-0460-11e5-93fa-005056bc0bdb"><a href="/monetary-policy/inflation-target/monetary-policy-transmission/" class="leveling3 last">Monetary policy transmission</a></li></ul></li><li class="leveling2" data-pageid="7fd288b8-0460-11e5-93fa-005056bc0bdb"><a href="/monetary-policy/central-bank-of-iceland-economic-forecasts/" class="leveling2">Central Bank of Iceland economic forecasts</a></li><li class="leveling2" data-pageid="9423bd1d-0460-11e5-93fa-005056bc0bdb"><div class="show-children"></div><a href="/monetary-policy/markets-and-market-operations/" class="leveling2 last">Markets and market operations</a><ul class="leveling2"><li class="leveling3" data-pageid="42774064-0eb7-11e5-93fa-005056bc0bdb"><a href="/monetary-policy/markets-and-market-operations/central-bank-of-iceland-measures/" class="leveling3 first">Central Bank of Iceland measures</a></li><li class="leveling3" data-pageid="1025f736-9b2f-11ee-9bb6-cea90ae48c85"><a href="/monetary-policy/markets-and-market-operations/cbi-market-activity-and-policy-instruments/" class="leveling3">CBI market activity and policy instruments</a></li><li class="leveling3" data-pageid="8ad35284-9b2f-11ee-9bb6-cea90ae48c85"><a href="/monetary-policy/markets-and-market-operations/markets/" class="leveling3">Markets</a></li><li class="leveling3" data-pageid="af631df5-9b2f-11ee-9bb6-cea90ae48c85"><a href="/monetary-policy/markets-and-market-operations/securities-eligible-as-collateral/" class="leveling3">Securities eligible as collateral</a></li><li class="leveling3" data-pageid="c4f07452-9b2f-11ee-9bb6-cea90ae48c85"><a href="/monetary-policy/markets-and-market-operations/payment-system/" class="leveling3 last">Payment system</a></li></ul></li></ul><div class="clearfix"></div></li><li data-pageid="2ab3b479-03a3-11e5-93fd-005056bc2afe" class="leveling1"><div class="show-children"></div><a href="/financial-stability/" class="leveling1">Financial Stability</a><ul class="leveling1"><li class="leveling2" data-pageid="0129307a-c637-4c71-ae6a-7506c189a9df"><div class="show-children"></div><a href="/financial-stability/financial-stability-committee/" class="leveling2 first">Financial Stability Committee</a><ul class="leveling2"><li class="leveling3" data-pageid="bc0941a6-83d4-4278-bdb4-1c7a04ea1613"><a href="/financial-stability/financial-stability-committee/fsn-meetings-with-parliamentary-committees-and-related-reports/" class="leveling3 first last single">FSN meetings with Parliamentary committees and related reports</a></li></ul></li><li class="leveling2" data-pageid="afe51f42-0463-11e5-93fd-005056bc2afe"><div class="show-children"></div><a href="/financial-stability/macroprudential-policy/" class="leveling2">Macroprudential policy</a><ul class="leveling2"><li class="leveling3" data-pageid="6805b216-abb4-4dba-a640-a02f590761b2"><a href="/financial-stability/macroprudential-policy/capital-buffers/" class="leveling3 first">Capital buffers</a></li><li class="leveling3" data-pageid="9f95c758-0463-11e5-93fd-005056bc2afe"><a href="/financial-stability/macroprudential-policy/foreign-exchange-balance/" class="leveling3">Foreign exchange balance</a></li><li class="leveling3" data-pageid="a8405745-0463-11e5-93fd-005056bc2afe"><a href="/financial-stability/macroprudential-policy/liquidity-and-stable-funding/" class="leveling3">Liquidity and stable funding</a></li><li class="leveling3" data-pageid="4913f57c-7cee-44d2-8de0-dc0170c85d92"><a href="/financial-stability/macroprudential-policy/restrictions-on-mortgage-lending/" class="leveling3">Restrictions on mortgage lending</a></li><li class="leveling3" data-pageid="63165d66-5afc-463e-9621-cb54ea0050ac"><a href="/financial-stability/macroprudential-policy/cbi-stress-test/" class="leveling3 last">CBI Stress test</a></li></ul></li><li class="leveling2" data-pageid="b7120589-1c2c-11ea-911b-005056bc3d8f"><div class="show-children"></div><a href="/financial-stability/oversight-of-financial-market-infrastructures/" class="leveling2">Oversight of financial market infrastructures</a><ul class="leveling2"><li class="leveling3" data-pageid="664cfdb3-1731-11ee-9bb0-005056bccf91"><a href="/financial-stability/oversight-of-financial-market-infrastructures/cyber-resilience-testing/" class="leveling3 first">Cyber resilience testing</a></li><li class="leveling3" data-pageid="0fd65b1d-09cf-11e5-93fa-005056bc0bdb"><div class="show-children"></div><a href="/financial-stability/oversight-of-financial-market-infrastructures/banknotes-and-coin/" class="leveling3 last">Banknotes and coin</a><ul class="leveling3"><li class="leveling4"><a href="/financial-stability/oversight-of-financial-market-infrastructures/banknotes-and-coin/valid-banknotes-in-circulation/" class="leveling4">Valid banknotes in circulation</a></li><li class="leveling4"><a href="/financial-stability/oversight-of-financial-market-infrastructures/banknotes-and-coin/valid-coins-in-circulation/" class="leveling4">Valid coins in circulation</a></li><li class="leveling4"><a href="/financial-stability/oversight-of-financial-market-infrastructures/banknotes-and-coin/notes-and-coin-in-circulation/" class="leveling4">Notes and coin in circulation</a></li><li class="leveling4"><a href="/financial-stability/oversight-of-financial-market-infrastructures/banknotes-and-coin/withdrawal-of-banknotes/" class="leveling4">Withdrawal of banknotes</a></li><li class="leveling4"><a href="/financial-stability/oversight-of-financial-market-infrastructures/banknotes-and-coin/reproduction-and-forgery/" class="leveling4">Reproduction and forgery</a></li></ul></li></ul></li><li class="leveling2" data-pageid="683d9600-f1c7-443f-8d95-2b240202c368"><div class="show-children"></div><a href="/financial-stability/foreign-exchange/" class="leveling2">Foreign exchange</a><ul class="leveling2"><li class="leveling3" data-pageid="1d2c75f3-5b3e-11e7-90f6-005056bc3d8f"><a href="/financial-stability/foreign-exchange/capital-controls/" class="leveling3 first last single">Capital controls</a></li></ul></li><li class="leveling2" data-pageid="1279a8b5-7cfc-11ec-9b9f-005056bccf91"><div class="show-children"></div><a href="/financial-stability/resolution-authority/" class="leveling2 last">Resolution Authority</a><ul class="leveling2"><li class="leveling3" data-pageid="2121bb0f-7cfe-11ec-9b9f-005056bccf91"><a href="/financial-stability/resolution-authority/resolution/" class="leveling3 first">Resolution</a></li><li class="leveling3" data-pageid="9758c87a-7cfe-11ec-9b9f-005056bccf91"><a href="/financial-stability/resolution-authority/resolution-plans/" class="leveling3">Resolution plans</a></li><li class="leveling3" data-pageid="08858fd0-7cff-11ec-9b9f-005056bccf91"><a href="/financial-stability/resolution-authority/mrel/" class="leveling3">MREL</a></li><li class="leveling3" data-pageid="241fc8e1-7d00-11ec-9b9f-005056bccf91"><a href="/financial-stability/resolution-authority/resolution-fund-/" class="leveling3 last">Resolution Fund </a></li></ul></li></ul><div class="clearfix"></div></li><li data-pageid="a82e28dc-2e0a-11ea-911c-005056bc3d8f" class="leveling1"><div class="show-children"></div><a href="/financial-supervision/" class="leveling1">Financial Supervision</a><ul class="leveling1"><li class="leveling2" data-pageid="f712521f-dce4-4c47-a93b-3bf4363e79a6"><a href="https://en.fme.is/about-us/financial-supervision-committee/" class="leveling2 first">Financial Supervision Committee</a></li><li class="leveling2" data-pageid="8259f1de-fbfa-4bbc-bc76-7c5c0230f57b"><a href="https://en.fme.is/supervision/" class="leveling2">Supervision</a></li><li class="leveling2" data-pageid="df0c40a8-4ce9-4ab8-b95f-15e7306eb7d3"><a href="https://en.fme.is/supervision/consumer-affairs/" class="leveling2 last">Consumer Affairs</a></li></ul><div class="clearfix"></div></li><li data-pageid="61a0fb5e-03a3-11e5-93fd-005056bc2afe" class="leveling1 childselected"><div class="show-children"></div><a href="/statistics/" class="leveling1 childselected">Statistics</a><ul class="leveling1"><li class="leveling2" data-pageid="eeb290ab-09ce-11e5-93fa-005056bc0bdb"><a href="/statistics/data/" class="leveling2 first">Data</a></li><li class="leveling2" data-pageid="17aa1bad-d69b-11e7-90f9-005056bc3d8f"><a href="https://www.cb.is/other/key-interest-rate/" class="leveling2">Interest rates</a></li><li class="leveling2" data-pageid="e602fd30-c37d-11e6-9406-005056bc0bdb"><a href="/statistics/release-calendar/" class="leveling2">Release calendar</a></li><li class="leveling2" data-pageid="f65c04bb-09ce-11e5-93fa-005056bc0bdb"><a href="/statistics/sdds/" class="leveling2">SDDS</a></li><li class="leveling2" data-pageid="f65c04c3-09ce-11e5-93fa-005056bc0bdb"><a href="/statistics/methodology/" class="leveling2">Methodology</a></li><li class="leveling2" data-pageid="7f26cc45-e5cd-11ed-9bae-005056bccf91"><div class="show-children"></div><a href="/statistics/surveys/" class="leveling2">Surveys</a><ul class="leveling2"><li class="leveling3" data-pageid="9bf04a6c-4211-4344-ac7b-4dcd1a0aeb25"><a href="/statistics/surveys/survey-of-market-expectations/" class="leveling3 first">Survey of market expectations</a></li><li class="leveling3" data-pageid="b954cf80-0f2e-400e-9ee6-cd8e810e00b5"><a href="/statistics/surveys/lending-survey/" class="leveling3 last">Lending survey</a></li></ul></li><li class="leveling2" data-pageid="684d781c-e066-11e9-911a-005056bc3d8f"><a href="/statistics/various-measures-of-inflation-expectations/" class="leveling2">Various measures of inflation expectations</a></li><li class="leveling2" data-pageid="fcac51d5-09ce-11e5-93fa-005056bc0bdb"><div class="show-children"></div><a href="/statistics/official-exchange-rate/" class="leveling2 childselected">Official exchange rate</a><ul class="leveling2"><li class="leveling3" data-pageid="7b0f42b5-04e5-11e8-8caf-d481d7105f70"><a href="/statistics/official-exchange-rate/trade-weighted-indices/" class="leveling3 first">Trade-weighted indices</a></li><li class="leveling3" data-pageid="6909b7bd-5189-45dd-bf5b-c76ea33496ef"><a href="/?PageId=6909b7bd-5189-45dd-bf5b-c76ea33496ef" class="leveling3">Time series</a></li><li class="leveling3" data-pageid="9468ed2b-09f1-11e5-93fa-005056bc0bdb"><a href="/statistics/official-exchange-rate/revised-currency-baskets/" class="leveling3">Revised currency baskets</a></li><li class="leveling3" data-pageid="56a8b44d-a762-11e7-90f9-005056bc3d8f"><a href="/statistics/official-exchange-rate/faq/" class="leveling3 selected last">FAQ</a></li></ul></li><li class="leveling2" data-pageid="fcac51cd-09ce-11e5-93fa-005056bc0bdb"><a href="/statistics/xml-data/" class="leveling2 last">XML data</a></li></ul><div class="clearfix"></div></li><li data-pageid="766ba718-03a3-11e5-93fd-005056bc2afe" class="leveling1"><div class="show-children"></div><a href="/publications/" class="leveling1">Publications</a><ul class="leveling1"><li class="leveling2" data-pageid="ba6ab676-0b91-11e5-93fd-005056bc2afe"><a href="http://www.cb.is/publications/news/news-all-years" class="leveling2 first">News</a></li><li class="leveling2" data-pageid="6b771c14-2efc-11e5-93fc-005056bc0bdb"><div class="show-children"></div><a href="/publications/publications/publications-all-archive/?" class="leveling2">Publications</a><ul class="leveling2"><li class="leveling3" data-pageid="782b93c9-796f-11ee-9bb6-005056bccf91"><a href="/publications/publications/previously-published-material/" class="leveling3 first last single">Previously published material</a></li></ul></li><li class="leveling2" data-pageid="fec64f70-0460-11e5-93fa-005056bc0bdb"><a href="http://www.cb.is/publications/Speeches/Speeches-all-years/?all=1&" class="leveling2">Speeches</a></li><li class="leveling2" data-pageid="5cce971b-9df6-11e7-90f7-005056bc3d8f"><a href="/publications/events/" class="leveling2">Events</a></li><li class="leveling2" data-pageid="69ea0932-e385-11e9-911a-005056bc3d8f"><a href="/publications/conferences/" class="leveling2 last">Conferences</a></li></ul><div class="clearfix"></div></li><li data-pageid="3fbf364c-0eb4-447a-a7fa-d05b9667c68b" class="leveling1 last"><div class="show-children"></div><a href="/about-the-bank/central-bank-of-iceland/?" class="leveling1">About the Bank</a><ul class="leveling1"><li class="leveling2" data-pageid="f7673198-09d2-11e5-93fd-005056bc2afe"><div class="show-children"></div><a href="/about-the-bank/central-bank-of-iceland/" class="leveling2 first">Central Bank of Iceland</a><ul class="leveling2"><li class="leveling3" data-pageid="16fc3750-09cd-11e5-93fa-005056bc0bdb"><a href="/about-the-bank/central-bank-of-iceland/organisation/" class="leveling3 first">Organisation</a></li><li class="leveling3" data-pageid="3fd2fe5a-09cd-11e5-93fa-005056bc0bdb"><a href="/about-the-bank/central-bank-of-iceland/history-and-premises/" class="leveling3">History and premises</a></li><li class="leveling3" data-pageid="3fd2fe62-09cd-11e5-93fa-005056bc0bdb"><a href="/about-the-bank/central-bank-of-iceland/libraries-and-collection/" class="leveling3">Libraries and collection</a></li><li class="leveling3" data-pageid="4c99ad04-09cd-11e5-93fa-005056bc0bdb"><a href="/about-the-bank/central-bank-of-iceland/laws-and-rules/" class="leveling3">Laws and rules</a></li><li class="leveling3" data-pageid="638c007b-b1dc-11e8-9101-005056bc3d8f"><a href="/about-the-bank/central-bank-of-iceland/personal-data-protection/" class="leveling3">Personal Data Protection</a></li><li class="leveling3" data-pageid="4c99ad0c-09cd-11e5-93fa-005056bc0bdb"><a href="/about-the-bank/central-bank-of-iceland/tariff/" class="leveling3 last">Tariff</a></li></ul></li><li class="leveling2" data-pageid="18f3c86a-09d5-11e5-93fd-005056bc2afe"><a href="/about-the-bank/international-cooperation/" class="leveling2">International cooperation</a></li><li class="leveling2" data-pageid="21b627f2-09d5-11e5-93fd-005056bc2afe"><a href="/about-the-bank/international-reserves/" class="leveling2">International reserves</a></li><li class="leveling2" data-pageid="2a631c33-09d5-11e5-93fd-005056bc2afe"><a href="/about-the-bank/government-debt-management/" class="leveling2">Government debt management</a></li><li class="leveling2" data-pageid="8823f429-a22e-11e9-9113-005056bc3d8f"><div class="show-children"></div><a href="/about-the-bank/careers/" class="leveling2">Careers</a><ul class="leveling2"><li class="leveling3" data-pageid="35d31f82-a0f6-11eb-9b94-005056bccf91"><a href="/about-the-bank/careers/equal-pay-policy/" class="leveling3 first last single">Equal Pay Policy</a></li></ul></li><li class="leveling2" data-pageid="5d3b80fc-20b5-11ea-911b-005056bc3d8f"><a href="/about-the-bank/media/" class="leveling2">Media</a></li><li class="leveling2" data-pageid="72f667dc-09ce-11e5-93fa-005056bc0bdb"><a href="/about-the-bank/explanatory-notes/" class="leveling2 last">Explanatory notes</a></li></ul><div class="clearfix"></div></li><li class="leveling1"><a href="http://www.sedlabanki.is" class="leveling2">Icelandic</a></li><li class="leveling1 leit"><br /><div class="leit"><form action="/Leit" method="get" class="searchHead"><label for="searchBoxRe">Leit</label><input type="text" name="searchstring" id="searchBoxRe" placeholder="Search" /><input type="submit" class="blueButton" value="Leita" /></form></div></li></ul></div> </div> </nav> </header> <div class="breadcrumbs hidden-xs hidden-sm"> <div class="container"><ul id="breadcrumbs" class="pull-right"><li><a href="/" title="Frontpage">Front page</a><img src="/themes/Bootstrap/img/divider.png" /></li><li><a href="/statistics/" onclick="" title="PageName">Statistics</a><img src="/themes/Bootstrap/img/divider.png" /></li><li><a href="/statistics/official-exchange-rate/" onclick="" title="PageName">Official exchange rate</a><img src="/themes/Bootstrap/img/divider.png" /></li><li class="last"><a href="/statistics/official-exchange-rate/faq/" onclick="" title="PageName">FAQ</a></li></ul></div> </div> <div class="container main" role="main"><aside class="left col-md-3 hidden-xs hidden-sm" > <ul class="sidbarNav"><li data="/statistics/data/" class="sprite sbar level2 first "><div style="display:none">/statistics/data/</div><a href="/statistics/data/">Data</a><span class="arrow"></span></li><li data="https://www.cb.is/other/key-interest-rate/" class="sprite sbar level2 "><div style="display:none">https://www.cb.is/other/key-interest-rate/</div><a href="https://www.cb.is/other/key-interest-rate/">Interest rates</a><span class="arrow"></span></li><li data="/statistics/release-calendar/" class="sprite sbar level2 "><div style="display:none">/statistics/release-calendar/</div><a href="/statistics/release-calendar/">Release calendar</a><span class="arrow"></span></li><li data="/statistics/sdds/" class="sprite sbar level2 "><div style="display:none">/statistics/sdds/</div><a href="/statistics/sdds/">SDDS</a><span class="arrow"></span></li><li data="/statistics/methodology/" class="sprite sbar level2 "><div style="display:none">/statistics/methodology/</div><a href="/statistics/methodology/">Methodology</a><span class="arrow"></span></li><li data="/statistics/surveys/" class="sprite sbar level2 "><div style="display:none">/statistics/surveys/</div><a href="/statistics/surveys/">Surveys</a><span class="arrow"></span></li><li data="/statistics/various-measures-of-inflation-expectations/" class="sprite sbar level2 "><div style="display:none">/statistics/various-measures-of-inflation-expectations/</div><a href="/statistics/various-measures-of-inflation-expectations/">Various measures of inflation expectations</a><span class="arrow"></span></li><li data="/statistics/official-exchange-rate/" class="sprite sbar level2 childselected "><div style="display:none">/statistics/official-exchange-rate/</div><a href="/statistics/official-exchange-rate/">Official exchange rate</a><span class="arrow"></span></li><ul class="sidbarNav"><li data="/statistics/official-exchange-rate/trade-weighted-indices/" class="sprite sbar level3 first "><div style="display:none">/statistics/official-exchange-rate/trade-weighted-indices/</div><a href="/statistics/official-exchange-rate/trade-weighted-indices/">Trade-weighted indices</a><span class="arrow"></span></li><li data="/?PageId=6909b7bd-5189-45dd-bf5b-c76ea33496ef" class="sprite sbar level3 "><div style="display:none">/?PageId=6909b7bd-5189-45dd-bf5b-c76ea33496ef</div><a href="/?PageId=6909b7bd-5189-45dd-bf5b-c76ea33496ef">Time series</a><span class="arrow"></span></li><li data="/statistics/official-exchange-rate/revised-currency-baskets/" class="sprite sbar level3 "><div style="display:none">/statistics/official-exchange-rate/revised-currency-baskets/</div><a href="/statistics/official-exchange-rate/revised-currency-baskets/">Revised currency baskets</a><span class="arrow"></span></li><li data="/statistics/official-exchange-rate/faq/" class="sprite sbar level3 selected last "><div style="display:none">/statistics/official-exchange-rate/faq/</div><a href="/statistics/official-exchange-rate/faq/">FAQ</a><span class="arrow"></span></li></ul><li data="/statistics/xml-data/" class="sprite sbar level2 last "><div style="display:none">/statistics/xml-data/</div><a href="/statistics/xml-data/">XML data</a><span class="arrow"></span></li></ul> </aside> <div class="subpage col-md-9"> <div class="visible-print" style="margin-top:-50px;" > <img src="/themes/Bootstrap/img/logo.png" height="42" width="42" /> <br /><br /> </div> <h1>FAQ</h1> <div class="l-user-content"><p>Here below are common questions regarding the exchange rate index as well as their answers.</p> <p> </p></div><div class="l-user-content"></div><h3 class="qa-title"><span class="pull-right open-all" data-target="3d66d806-a758-11e7-90f9-005056bc3d8f">Show all</span></h3><span class="currency_qa"><ul class="qa 3d66d806-a758-11e7-90f9-005056bc3d8f"><li id="3d66d806-a758-11e7-90f9-005056bc3d8fplus1" class="plus"><h2 href="#" id="question1" class="question ">What is the exchange rate index?</h2><div class="slide-down answer1">The exchange rate index is the geometric mean of the exchange rates of major currencies against the Icelandic kr贸na. A rise in the index indicates a decline in the exchange rate of the kr贸na. The exchange rates of the foreign currencies are weighted together according to the composition of Iceland鈥檚 external trade. The selection of currencies and the weights used in the exchange rate index are discussed in greater detail under the link <a href="/statistics/official-exchange-rate/revised-currency-baskets/" target="_blank">Revised currency baskets.</a></div></li><li id="3d66d806-a758-11e7-90f9-005056bc3d8fplus2" class="plus"><h2 href="#" id="question2" class="question ">Where can data on exchange rates be found?</h2><div class="slide-down answer2">Exchange rate listings can be found under the link <a href="/statistics/official-exchange-rate/" target="_blank">Official exchange rate.</a> Exchange rates of other currencies can be found on a number of websites, including <a href="http://www.oanda.com" target="_blank">oanda.com.</a> The Central Bank of Iceland cannot be held liable for information found on such websites or for use of such information; furthermore, the Bank wishes to remind the reader of the general disclaimer concerning the reliability of data on the internet, which can be found on the Copyright and disclaimer page on this website.</div></li><li id="3d66d806-a758-11e7-90f9-005056bc3d8fplus3" class="plus"><h2 href="#" id="question3" class="question ">When are exchange rates listed?</h2><div class="slide-down answer3">The exchange rate of the Icelandic kr贸na is determined in the foreign exchange market, which is open between 9:15 hrs. and 16:00 hrs. on weekdays. Once a day, the Central Bank of Iceland fixes the official exchange rate of the kr贸na against foreign currencies, for use as a reference in official agreements, court cases, and other contracts between parties that do not specify another reference exchange rate; cf. Article 29 of the Act on the Central Bank of Iceland, and lists the official exchange rate index at the same time. This is done around 16:00 hrs. each day that regulated foreign exchange markets are in operation. Under extraordinary circumstances, the Central Bank may temporarily suspend its quotation of the exchange rate of the kr贸na.</div></li></ul></span></div> <div class="col-md-offset-3 col-md-9"> <div class="social-icons-blog hidden-print" > <div class="g-plus-blog left"><div class="g-plusone" data-size="tall" data-annotation="none"></div></div> <script type="text/javascript"> (function() { var po = document.createElement('script'); po.type = 'text/javascript'; po.async = true; po.src = 'https://apis.google.com/js/plusone.js'; var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(po, s); })(); </script> <div class="tweet-blog left"><a href="https://twitter.com/share" class="twitter-share-button" data-via="centralbank_is" data-count="none">Tweet</a> <script>!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+'://platform.twitter.com/widgets.js';fjs.parentNode.insertBefore(js,fjs);}}(document, 'script', 'twitter-wjs');</script></div>  <div class="fb-like left" data-href="" data-send="false" data-layout="button_count" data-width="80" data-show-faces="false" data-action="like" data-font="verdana"></div> <div class="fb-share-button left" data-href="" data-layout="button" data-font="verdana"></div> </div> </div> </div> </div>  <footer role="contentinfo"> <div class="container"> <div class="footer__item footer__item--first"><div class="l-user-content"><h2>The Central Bank of Iceland</h2> <p>Kalkofnsvegi 1, 101 Reykjav铆k</p>  <a class="footer__link footer__link--map " href="/frontpage/map/" title="A map that shows the location of The Central Bank of Iceland">Map</a> <p> </p> <p>Nat. reg. no. 560269-4129<br /> Swift: SISLISRE</p></div><div class="l-user-content"><div class="vottanir"><figure><a class="equal-pay" href="/about-the-bank/careers/equal-pay-policy/" title="Jafnlaunavottun"><img alt="Equal Pay Certificate" src="/library/Templates/2019/Jafnlaunavottun_an_texta_f_ljosan_grunn.png" /></a></figure><div class="bsi"><figure><img alt="BSI" src="/library/Templates/2019/mark-of-trust-certified-ISOIEC-27001-information-security-management-black-logo-En-GB-1019.png" /></figure><p>IS 755434</p></div></div></div></div> <div class="footer__item footer__item--second"><div class="l-user-content"><h2><a class="footer__link footer__link--phone" href="tel:003545699600" title="Hringja 铆 Se冒labanka 脥slands">+354 569 9600</a></h2> <p>Office hours 9 - 12 and 13 - 16<br /> <a href="mailto:sedlabanki@sedlabanki.is" title="Send an email to the Central Bank of Iceland"><span style="text-decoration: underline;">sedlabanki@sedlabanki.is</span></a><br />  </p> <p> <br /> <a href="https://databank.is/" target="_blank">Databank</a><br /> <a href="/publications/newsletter-registration/">Mailing list registration</a></p></div></div> <div class="footer__item footer__item--third"><div class="shortcuts "><h2>Information</h2><div class="shortcut__item"><a href="/about-the-bank/media/" class="shortcut__link"><div class="shortcut__text">Media</div></a></div><div class="shortcut__item"><a href="/other/copyright/" class="shortcut__link"><div class="shortcut__text">Copyright and disclaimer</div></a></div><div class="shortcut__item"><a href="/other/site-map/" class="shortcut__link"><div class="shortcut__text">Site map</div></a></div><div class="shortcut__item"><a href="/other/public-holidays-in-iceland/" class="shortcut__link" target="_blank"><div class="shortcut__text">Public holidays in Iceland</div></a></div><div class="shortcut__item"><a href="" class="shortcut__item ch2-open-settings-btn"><div class="shortcut__text">Cookie Settings</div></a></div></div><div class="shortcuts shortcuts--oneColumn shortcuts--social-icons"><div class="shortcut__item"><a href="https://www.facebook.com/Central-Bank-of-Iceland-110120807198995/" class="shortcut__link icon__Facebook" target="_blank"><div class="shortcut__text">Facebook</div></a></div><div class="shortcut__item"><a href="https://twitter.com/centralbank_is" class="shortcut__link icon__Twitter" target="_blank"><div class="shortcut__text">Twitter</div></a></div><div class="shortcut__item"><a href="https://www.linkedin.com/company/central-bank-of-iceland/ " class="shortcut__link icon__LinkedIn" target="_blank"><div class="shortcut__text">LinkedIn</div></a></div></div></div> </div> </footer> <script src="/LisaLib/GetSupportFile.aspx?id=ac13ad8f-fb15-11e4-93fd-005056bc2afe" type="text/javascript" ></script>   <script async src="https://www.googletagmanager.com/gtag/js?id=UA-10506683-1"></script> <script> window.dataLayer = window.dataLayer || []; function gtag(){dataLayer.push(arguments);} gtag('js', new Date()); gtag('config', 'UA-10506683-1'); </script>  <script type="text/plain" data-consent="analytics"> /*<![CDATA[*/ (function() { var sz = document.createElement('script'); sz.type = 'text/javascript'; sz.async = true; sz.src = '//siteimproveanalytics.com/js/siteanalyze_6035281.js'; var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(sz, s); })(); /*]]>*/ </script> <script src="/LisaLib/GetSupportFile.aspx?id=ac13ad8f-fb15-11e4-93fd-005056bc2afe" type="text/javascript" ></script>  </body> </html>