1 Icelandic Krona to Indian Rupees

Find the daily exchange rates for ISK/INR and for all the top World currencies.

Countries That Use Icelandic Krona (ISK) as their official currency

The Icelandic Krona (ISK) is used as the main currency in the following countries: Iceland

Countries That Use Indian Rupee (INR) as their official currency

The Indian Rupee (Indian Rupee) is used as the main currency in the following countries: India

About The Icelandic Krona (INR)

The INR - Indian Rupee - is the official currency of India, a country known for its rich cultural heritage, diverse population, and fast-growing economy. The Indian Rupee is symbolized by '₹' and abbreviated as 'INR,' which stands for 'Indian Rupee.' The Rupee is subdivided into 100 smaller units called 'paise.' As one of the most widely used currencies in the world, the Rupee plays a vital role in supporting the economic activities of over 1.4 billion people, making it an essential component of the Indian economy, which is one of the largest and fastest-growing globally.

The Indian Rupee has a long and fascinating history, with its origins dating back to the 6th century BCE, making it one of the oldest currencies in the world. The term 'rupee' comes from the Sanskrit word 'rūpya,' meaning 'wrought silver' or 'coin.' The modern Indian Rupee was introduced in 1950, shortly after India gained independence from British colonial rule in 1947. The introduction of the Rupee as the official currency marked the beginning of India’s journey as a sovereign economic entity. Over the years, the Indian Rupee has undergone several changes, including decimalization in 1957, when the Rupee was divided into 100 paise.

The Reserve Bank of India (RBI), the central bank of India, is responsible for issuing and regulating the Indian Rupee. Established in 1935, the RBI plays a critical role in maintaining financial stability, controlling inflation, and ensuring economic growth. The central bank formulates monetary policy, manages the supply of money, and oversees the banking system to maintain the stability of the Rupee. The RBI also intervenes in the foreign exchange market to manage the value of the INR, ensuring that it remains competitive and stable in the global financial landscape.

The Indian Rupee is issued in both coin and banknote forms. Coins are available in denominations of 1, 2, 5, 10, and 20 Rupees, while banknotes are issued in denominations of 10, 20, 50, 100, 200, 500, and 2,000 Rupees. Each banknote features images of Mahatma Gandhi, the father of the Indian nation, as well as various cultural, historical, and natural symbols that represent India’s diversity and heritage. The banknotes also include advanced security features to prevent counterfeiting, such as watermarks, microprinting, and holographic strips.

India has a diverse and rapidly growing economy, driven by sectors such as information technology, agriculture, manufacturing, and services. The Indian Rupee plays a crucial role in facilitating the economic activities of the country, from small-scale trade in rural areas to large-scale industries and international trade. The value of the Rupee is determined by market forces, with factors such as economic growth, inflation, interest rates, and global trade dynamics influencing its exchange rate. The Indian government and the RBI work together to maintain the stability of the Rupee, ensuring that it remains a reliable medium of exchange and a store of value for the country’s citizens.

The Indian Rupee is used for all types of transactions across India, from daily expenses in bustling city markets to large business transactions in major metropolitan areas such as Mumbai, Delhi, and Bengaluru. Tourists visiting India will use the Rupee for their travel expenses, including exploring iconic landmarks such as the Taj Mahal, the temples of Varanasi, and the beaches of Goa. The Rupee serves as a symbol of India’s economic independence and resilience, reflecting the country’s journey from a colonial past to an emerging global power.

Despite facing challenges such as inflation and fluctuating exchange rates, the Indian Rupee has demonstrated resilience and adaptability. India’s economic reforms, open trade policies, and emphasis on innovation have contributed to the Rupee’s stability and strength. As India continues to grow and establish itself as a major global economy, the Indian Rupee remains a symbol of the nation’s progress, diversity, and aspirations for a prosperous future. The Rupee not only represents India’s economic activities but also embodies the spirit of its people, their culture, and their unwavering drive for growth and development.

About The Icelandic Krona (ISK)

The ISK - Icelandic Króna - is the official currency of Iceland, an island nation known for its stunning natural landscapes, including volcanoes, glaciers, geysers, and hot springs. The Icelandic Króna is symbolized by 'kr' and abbreviated as 'ISK.' It is subdivided into 100 aurar, although aurar coins are no longer in active circulation. The Króna plays a vital role in supporting Iceland’s economy, which is characterized by a mix of tourism, fisheries, renewable energy, and technology sectors. The word 'króna' translates to 'crown' in Icelandic, which is similar to the names of other Nordic currencies.

The Icelandic Króna was first introduced in 1874 when Iceland was part of the Kingdom of Denmark, and it replaced the Danish Krone. After gaining sovereignty from Denmark in 1918 and later full independence in 1944, Iceland began issuing its own Króna to reflect its status as an independent nation. Over the years, the Króna has seen numerous changes, including revaluations and periods of high inflation, which have shaped its current form. The Central Bank of Iceland (Seðlabanki Íslands) is responsible for issuing and managing the currency, implementing monetary policy, and ensuring financial stability.

The Icelandic economy is relatively small but highly developed, with a focus on industries such as fisheries, tourism, aluminum production, and renewable energy. The Króna plays a key role in facilitating domestic trade and economic activities, particularly in the fisheries sector, which remains a major contributor to Iceland's exports. Tourism is also a significant part of the economy, with millions of visitors attracted each year by Iceland's unique natural beauty and vibrant culture. The value of the ISK is influenced by factors such as commodity prices, economic policies, and global demand for Icelandic exports.

The Icelandic Króna is issued in both coin and banknote forms. Coins are available in denominations of 1, 5, 10, 50, and 100 Krónur. Banknotes are issued in denominations of 500, 1,000, 2,000, 5,000, and 10,000 Krónur. The banknotes feature portraits of prominent Icelandic historical figures, such as Jón Sigurðsson, a leader in Iceland's independence movement, and Ragnheiður Jónsdóttir, known for her contributions to education and culture. The reverse sides of the banknotes showcase Iceland’s rich cultural heritage and natural beauty, including images of traditional Icelandic landscapes, marine life, and national landmarks.

The Central Bank of Iceland plays an active role in managing the Icelandic Króna, particularly during periods of economic instability. The global financial crisis of 2008 had a significant impact on Iceland’s economy and the value of the Króna, leading to a period of economic uncertainty and the imposition of capital controls to stabilize the currency. Since then, Iceland has made significant progress in rebuilding its economy, with the Króna recovering its value and the country gradually lifting capital controls. The Central Bank's monetary policy focuses on maintaining inflation targets, ensuring stability, and supporting sustainable economic growth.

The Icelandic Króna is used across Iceland for all forms of transactions, from purchasing goods and services in Reykjavik's bustling markets to booking tours and activities in the scenic countryside. Tourists visiting Iceland will use the Króna for their travel expenses, including exploring iconic sites like the Blue Lagoon, Gullfoss Waterfall, and Thingvellir National Park. The Króna serves as a symbol of Iceland's independence, resilience, and adaptability, reflecting the unique character of this island nation and its ability to thrive despite challenges.

Despite being a small currency by global standards, the Icelandic Króna represents the strength and determination of the Icelandic people. Iceland’s economic recovery following the financial crisis and its continued focus on innovation and sustainability have ensured the stability of the Króna. As Iceland continues to develop its economy, with an emphasis on renewable energy and environmental conservation, the Icelandic Króna remains a crucial part of the country’s identity, embodying its spirit of resilience, independence, and commitment to progress.

Icelandic Krona (ISK) Frequently Used Conversions