30 December 2021

Revised currency baskets

The weights of currencies in the baskets used to calculate the broad and narrow merchandise- and trade-weighted indices have been updated. The weights are determined based on Iceland’s external trade in 2020. The last review was carried out at the beginning of 2021. The revised baskets will be used as of 1 January 2022 and will remain in use until the next annual review. More here: Revised currency baskets

The currency baskets are reviewed annually based on Iceland’s external trade during the prior year. The aim is that the baskets reflect as closely as possible the composition of Iceland’s external trade in goods and services. Currency selection is based on the three-year average of a country’s share in Iceland’s goods and services trade.