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Money & duty free for Iceland
Exchange rates:
Icelandic kronaC$1 = Kr115.02
€1 = Kr158.86
£1 = Kr188.11
US$1 = Kr123.38
Money & Currency
Currency information:
Icelandic krona (ISK; symbol kr) = 100 aurar. Notes are in denominations of kr5,000, 2,000, 1,000 and 500. Coins are in denominations of kr100, 50, 10, 5 and 1 and feature Iceland’s many native fish species. It is often difficult to get Icelandic money abroad, though not impossible; there are several ATMs and banks at the airport on arrival.
Credit cards:
American Express, Diners Club, MasterCard and Visa are widely accepted.
ATM:
ATMs are available throughout the country.
Travellers cheques:
Accepted, although mainly in key urban areas. To avoid additional exchange rate charges, travellers are advised to take traveller's cheques in US Dollars.
Banking hours:
Mon-Fri 0915-1600.
Currency restriction:
There are no restrictions on the import or export of local or foreign currency.
Currency exchange:
Foreign currencies can be exchanged in all major banks. Most hotels also provide their guests with exchange services, which may cost more.
Iceland duty free
The following goods may be imported into Iceland by persons over 18 years of age (tobacco products) or 20 years of age (alcoholic beverages) without incurring customs duty:
• 200 cigarettes or 250g of tobacco products.
• 1l of spirits, 1l of wine; or 1l of wine, 6l of beer; or 1.5l of spirits, 6l of beer; or 2.25l of wine
Note: Travellers may bring in up to 3kg (6.6lb) of food not exceeding kr18,500 and goods free of duty up to the value of kr65,000; the value of each single goods item must not exceed kr32,500. They may additionally bring a gift, the value of which must not exceed Kr10,000. There is a duty free store on arrival at Reykjavik airport as well as departure.
All fishing and riding equipment must be disinfected and a certificate of disinfection issued by an official veterinary authority presented on arrival.
Visitors may bring conventional medicines suitable for personal needs during their stay but may not exceed 100 days consumption. Customs officers can request a doctor's certificate if appropriate.
There are also restrictions on larger amounts of flowers and plants, and certain types of telephonic and communications equipments, which are subject to a permit from the Post and Telecom Administration (www.pta.is). A permit, however, is not required if a traveller imports one GSM mobile phone.
VAT refunds: Visitors leaving the country can claim their VAT back from the Icelandic Government. This refund offers a reduction of 15% of the retail price and must be claimed within 3 months of the date of purchase. The total purchase amount must be under kr4,000 per store. All goods that cost over kr5,000 have to be shown at customs before check in. You can claim the money back through the Landsbanki Islands branch in Keflavik airport’s departure hall. Complete customs information can be found at www.tollur.is.
Banned imports:
Uncooked meats, milk and eggs, narcotics and weapons.
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