Complete Guide to the Currency of Iceland for Travelers
                     Currency of Iceland: 
Everything You 
Need to Know 
Before You Travel
www.hertz.is
What is the Currency 
in Iceland?
Iceland uses the Icelandic Krona, often 
abbreviated as ISK or simply displayed 
as “kr”. The currency is issued by the 
Central Bank of Iceland and comes in 
both coins and banknotes.
Bank Notes and Coins in Iceland
Frequently used coins include kr1, kr5, 
kr10, kr50, and kr100, while common 
banknotes are kr500, kr1000, kr2000, 
kr5000, and kr10000.
Do You Need To Exchange Currency Before 
Visiting Iceland?
When you’re preparing for your trip to 
Iceland, it never hurts to keep tabs on 
Iceland currency exchange rates and aim 
to exchange some of your currency to ISK 
when the rate is favourable for you.
Where is an Iceland Currency Exchange?
If you do want to exchange currency in 
Iceland, you can still do so once you 
arrive. You won’t see many specific money 
exchange shops in the towns of Iceland, 
not even in Reykjavik. So, the best option 
is to exchange your money at Keflavik 
International Airport when you arrive.
Paying for Fuel/Gas in 
Iceland
If you’re travelling in Iceland, you’re likely doing 
so with a rental car. It’s hands down the best 
way to get around the island and visit all the 
attractions you want to see on your trip.
If you’re driving, then you’ll need to refuel. If 
you’re stopping in bigger towns like Reykjavik or 
Akureyri, you will have no trouble finding regular 
gas stations with attendants where you can pay in 
either cash or card.
For more information about paying for fuel in 
Iceland, check out: Iceland gas station guide and 
Guide to Gas prices in Iceland.
Is Food Expensive in 
Iceland?
Food in Iceland tends to be more expensive than in 
other European countries, as many food products are 
imported, which can drive the price up. Both dining out 
and purchasing from grocery stores can seem pricey 
compared to what you’re used to at home, depending 
on where you’re from.
A meal at an inexpensive restaurant will run you between 
2700 – 4100 KR (20 – 30 USD), while a three-course 
dinner for two at a mid-range restaurant will cost about 
10000 – 16000 KR (about 75 – 120 USD).
Tax-Free Shopping 
in Iceland
Don’t forget to ask for a tax-free receipt 
when shopping in Iceland! Your purchases 
may be eligible for a tax rebate, and with 
such high VAT in Iceland, you can get 
quite a bit of money back.
When you leave Iceland, take your 
receipts to the customs office at KEF 
airport and then they will provide you 
with your refund.
Most Importantly: Book 
Your Rental Car in 
AThde bveasnt wcaey to get a good deal on a rental car in 
Iceland is by booking in advance and at opportune 
times of the year.
Car rental prices in Iceland are cheapest during 
February,
March and November, so visiting during these 
times is the best way to reduce the amount of 
Iceland currency you spend. Regardless, you can 
check out the different rental cars available and 
enter the dates you’d like to visit to get a quote 
for how much it might cost you.
Fun Facts About the Icelandic Bank Note: Who 
Are the Figures on Iceland Currency Bills?
500 ISK – Jón Sigurðsson
Jón Sigurðsson is celebrated as a key leader in 
Iceland’s movement for independence, 
symbolizing Icelandic pride and resilience.
1,000 ISK – Brynjólfur Sveinsson
Brynjólfur Sveinsson, a Lutheran bishop at 
Skálholt, is known for his dedication to 
preserving Iceland’s Norse mythology and 
sagas, securing a vital part of Icelandic 
heritage.
2,000 ISK – Jóhannes 
Kjarval
Jóhannes Kjarval, one of Iceland’s beloved 
painters, is renowned for his depictions of 
Icelandic landscapes.
5,000 ISK – Ragnheiður Jónsdóttir 
Ragnheiður Jónsdóttir, the only woman 
featured on
Iceland’s banknotes, was a skilled 
seamstress and teacher.
10,000 ISK – Jónas Hallgrímsson
Jónas Hallgrímsson is one of Iceland’s 
cherished poets, best known for his contributions 
to Icelandic literature and for authoring the 
famous Passion Hymns.
Currency of Iceland 
Guide
Understanding the currency in Iceland 
isn’t challenging, but as with any new 
currency, it’s helpful to know what to 
expect in advance.
When you’re budgeting and planning for 
your trip, it’s important to consider 
currency to make sure you’re getting 
the best exchange rate and can find 
ways to save money during your time in 
Iceland.
Book your car with Hertz Iceland now, 
and you’ll be able to pick your car up in 
the arrivals hall of the airport when you 
land and head right to your first 
destination!
CONTACT US
Phone
+35452244 00
Email
[email protected]
Website
www.hertz.is
Location
Flugvallarvegi 5, 101 
Reykjavík