1 Icelandic Krona to New Zealand Dollars

Find the daily exchange rates for ISK/NZD 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 New Zealand Dollar (NZD) as their official currency

The New Zealand Dollar (New Zealand Dollar) is used as the main currency in the following countries: Cook Islands, New Zealand, Niue, Pitcairn Islands

About The Icelandic Krona (NZD)

The NZD - New Zealand Dollar - is the official currency of New Zealand, as well as the Cook Islands, Niue, Tokelau, and the Pitcairn Islands. The New Zealand Dollar is symbolized by '$' or 'NZ$' to distinguish it from other dollar-denominated currencies and is abbreviated as 'NZD.' It is also colloquially known as the 'Kiwi Dollar,' in reference to the kiwi bird, a national symbol of New Zealand. The NZD is subdivided into 100 cents and plays a crucial role in supporting the country's diverse economy, known for its agriculture, tourism, and services sectors.

The New Zealand Dollar was introduced in 1967, replacing the New Zealand Pound at a rate of two dollars per pound as part of a move towards decimalization. This transition aligned New Zealand's currency system with many other countries that had already adopted decimal-based systems. Since its introduction, the NZD has evolved to become one of the most traded currencies in the world, particularly among commodity-linked currencies. The strength of the New Zealand Dollar reflects the country’s economic resilience, stable financial system, and strong trade relationships with major economies, particularly Australia, China, and the United States.

The Reserve Bank of New Zealand (RBNZ) is the central bank responsible for issuing the New Zealand Dollar and managing the country's monetary policy. Established in 1934, the RBNZ plays a key role in maintaining price stability, managing inflation, and promoting sustainable economic growth. The central bank sets interest rates and oversees the financial system to ensure that the NZD remains stable and trusted. The NZD is a free-floating currency, with its value determined by supply and demand in the global foreign exchange market. The Reserve Bank also intervenes in the forex market when necessary to stabilize the currency during periods of excessive volatility.

The New Zealand Dollar is issued in both coin and banknote forms. Coins are available in denominations of 10, 20, and 50 cents, as well as 1 and 2 dollars. Banknotes are issued in denominations of 5, 10, 20, 50, and 100 dollars. The banknotes feature notable figures from New Zealand’s history, including Sir Edmund Hillary, the first person to reach the summit of Mount Everest, and Kate Sheppard, a leader in the women's suffrage movement. The reverse sides of the banknotes include imagery depicting New Zealand's unique flora, fauna, and natural landmarks, such as the yellow-eyed penguin and Mount Cook. The banknotes are made from polymer and include advanced security features, making them durable and resistant to counterfeiting.

New Zealand’s economy is diverse and heavily reliant on agriculture, with key exports including dairy, meat, and wine. Tourism is also a major contributor to the economy, with millions of visitors attracted each year by New Zealand's breathtaking landscapes, adventure activities, and rich cultural heritage. The New Zealand Dollar plays an essential role in supporting these industries, facilitating both domestic trade and international exports. The NZD is often influenced by global commodity prices, particularly dairy, as New Zealand is one of the world’s largest dairy exporters. Its value is also impacted by economic data, interest rate decisions, and global trade dynamics.

The New Zealand Dollar is used throughout New Zealand for all types of transactions, from everyday purchases at local markets to large business transactions in major cities like Auckland and Wellington. Tourists visiting New Zealand will use the NZD for their travel expenses, including exploring popular destinations like Milford Sound, Rotorua’s geothermal wonders, and the vibrant city life of Queenstown. The NZD serves as a practical currency for day-to-day life and a symbol of New Zealand’s natural beauty, cultural identity, and economic independence.

Despite being a relatively small economy, New Zealand has a significant place in global trade, and the New Zealand Dollar is an important part of the international financial system. The country’s stable political environment, transparent regulatory framework, and emphasis on sustainability have helped the NZD maintain its value and attractiveness to investors. As New Zealand continues to develop its economy, with a focus on innovation, green energy, and sustainable growth, the New Zealand Dollar remains a symbol of the country's resilience, progress, and commitment to maintaining a prosperous and open economy.

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