The Icelandic krona declined to the lowest level in almost seven years against the U.S. dollar yesterday after the rating downgrades by S&P and Fitch rating agencies raised the risk-averting mood among the investors.
Icelandic Króna ISK
Detailed information and fundamental factors
Central Bank: Central Bank of Iceland
Interest Rate: 5.75%
Public Debt to GDP Ratio, 2010: 126.3%
Trade Balance, 2010: $0.982 bln.
Inflation, 2010: 5.4%
Supporting Factors
High-yielding interest rates
medium
Factors of Weakness
Dependence on the eurozone
Fiscal irresponsibility
strong
