26/06/2020: Currency peg under review
Barbados announced that it would review the decades-long currency peg of 2:1 with the US dollar, considering a shift to a floating exchange rate.
15/11/2018: New Currency Notes Introduced
Iceland released updated banknotes and coins featuring improved security measures and new designs, modernizing the Krona's physical appearance.
15/03/2015: Capital Controls Lifted
Iceland lifted its capital controls, implemented after the financial crisis, allowing for more flexible foreign exchange transactions.
05/08/2013: Devaluation of currency
Barbados devalued its currency by 10% to stimulate economic growth and competitiveness.
14/11/2010: IMF Loan Approved
Iceland secured a $2.1 billion loan from the International Monetary Fund, stabilizing the Krona and aiding economic recovery.
06/10/2008: Financial Crisis Begins
The collapse of Icelandic banks and subsequent financial crisis severely devalued the Krona, leading to economic turmoil.
24/07/1995: New currency design
Barbados introduced a new design for its currency, featuring national symbols and landmarks.
05/03/1981: Stock Exchange Established
The Icelandic Stock Exchange was founded, promoting economic growth and affecting the Krona's value.
05/05/1975: Introduction of decimalization
Barbados introduced decimalization, dividing the Barbadian Dollar into 100 cents.
01/01/1973: Fixed exchange rate
Barbados fixed its currency exchange rate to the US dollar at a rate of 2 Barbadian Dollars to 1 US Dollar.
03/07/1972: Barbados gains independence
Barbados gained independence from British rule, leading to the establishment of the Central Bank of Barbados.
10/05/1940: Occupation of Iceland
Following the German occupation of Denmark, Iceland became occupied by British forces, impacting the currency's stability.
01/10/1935: Introduction of Barbadian Dollar
The Barbadian Dollar was introduced as the official currency of Barbados, replacing the East Caribbean dollar.
01/01/1922: Currency Board Established
The Icelandic Krona was introduced under the Danish Krone pegged to 1 Krone = 100 aurar.