Information on the foreign currency auction 16 June 2016
The Central Bank of Iceland announced on 25 May that a foreign currency auction would be held on 16 June 2016, in which the Central Bank of Iceland offers to purchase krónur in exchange for cash payment in foreign currency. More specifically, the Bank offers to buy krónur defined as offshore krónur according to Act no. 37/2016. The auction will take place on Thursday 16 June 2016. It will begin at 10:00 hrs. and last until 14:00 hrs. that same day. The auction is part of the comprehensive action plan to lift the capital controls; cf. the Government and Central Bank’s capital account liberalisation strategy of 8 June 2015.
Information on the auction is accessible here:
Explanation of amendments to Terms of Auction (Posted 14 June 2016)
Results of foreign currency auction of 16 June 2016 (Posted 21 June 2016)
Queries from owners of offshore krónur may be directed to entities that have concluded an intermediation agreement with the Central Bank:
Arion banki hf.
Clearstream Banking S.A.
Euroclear Bank S.A./N.V.
Kvika banki hf.