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.
30/06/2015: Demonetization of old Guinean franc banknotes
The old series of Guinean franc banknotes, denominated in 'Syli,' ceased to be legal tender, and only the new franc banknotes remained in circulation.
15/03/2015: Capital Controls Lifted
Iceland lifted its capital controls, implemented after the financial crisis, allowing for more flexible foreign exchange transactions.
26/09/2012: Introduction of new Guinean franc coins
New coins denominated in the Guinean franc were introduced, replacing the previously used Guinean syli coins.
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.
30/06/2010: Revaluation of the Guinean franc
The Guinean franc underwent a revaluation, with 1 new franc being equivalent to 10,000 old francs.
06/10/2008: Financial Crisis Begins
The collapse of Icelandic banks and subsequent financial crisis severely devalued the Krona, leading to economic turmoil.
30/06/1997: Introduction of new Guinean franc
A new series of Guinean franc banknotes, denominated in 'Syli,' was introduced as a replacement for the previous currency.
30/11/1985: Devaluation of the Guinean franc
The Guinean franc was devalued by 50%, leading to an economic crisis and high inflation.
05/03/1981: Stock Exchange Established
The Icelandic Stock Exchange was founded, promoting economic growth and affecting the Krona's value.
31/05/1971: Redenomination of the Guinean franc
The Guinean franc underwent a redenomination, with 1 new franc being equivalent to 10 old francs.
01/10/1959: Introduction of Guinean franc
The Guinean franc was introduced as the official currency of Guinea following its independence from France.
10/05/1940: Occupation of Iceland
Following the German occupation of Denmark, Iceland became occupied by British forces, impacting the currency's stability.
01/01/1922: Currency Board Established
The Icelandic Krona was introduced under the Danish Krone pegged to 1 Krone = 100 aurar.