04/02/2021: Ending of Intervention Policy
Denmark's central bank announced the end of its long-standing policy of defending the Krone's peg to the Euro.
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.
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.
19/09/2000: Referendum on Euro Membership
Danish voters rejected adopting the Euro in a referendum, maintaining the Krone as the national currency.
31/12/1998: Euro peg
Denmark joined the European Exchange Rate Mechanism (ERM II), pegging the Krone to the Euro with a narrow fluctuation band.
24/03/1982: Floating Exchange Rate
Denmark switched to a floating exchange rate regime, allowing the Krone's value to be determined by market forces.
05/03/1981: Stock Exchange Established
The Icelandic Stock Exchange was founded, promoting economic growth and affecting the Krona's value.
21/07/1944: Bretton Woods Agreement
Denmark became a member of the International Monetary Fund (IMF) and agreed to the Bretton Woods system, pegging the Krone to the US dollar.
10/05/1940: Occupation of Iceland
Following the German occupation of Denmark, Iceland became occupied by British forces, impacting the currency's stability.
10/09/1927: Return to Gold Standard
Denmark abandoned the gold standard due to economic pressures and public debt.
01/01/1922: Currency Board Established
The Icelandic Krona was introduced under the Danish Krone pegged to 1 Krone = 100 aurar.
31/12/1872: Pegging to Gold Standard
The Danish Krone was pegged to the gold standard, fixing its value in relation to gold.