Iceland Real Effective Exchange Rate
Real effective exchange rate index PX.REX.REER
Iceland's real effective exchange rate was 122.06 in 2026 (projected), ranked 57th globally. This represents a 1.0% increase from 2025. Data from BIS, covering 1979–2026.
Overview
Iceland's real effective exchange rate stood at 122.06 in 2026, a rise of +1.23 from 2025. Based on recent trends, this figure is projected to reach 119.82 by 2027. Iceland ranked 57th globally.
Iceland's real effective exchange rate has exhibited significant fluctuations over the past 48 years, with a marked peak in 2005 at 156.98, indicating a strong Icelandic krona relative to other currencies. Conversely, the country experienced an all-time trough in 2009, with a rate of 96.68, signaling a significant depreciation. The latest available data from the Bank for International Settlements (BIS) shows Iceland's real effective exchange rate standing at 122.06, ranking 57th globally. This is slightly lower than Estonia, which ranks 55th at 121.71. Among peer countries, Colombia ranks 56th at 121.75, while the Russian Federation ranks 59th at 123.99. The trajectory of Iceland's real effective exchange rate has been influenced by various economic factors, including the country's unique financial market vulnerabilities and its reliance on tourism and fishing industries. A significant change in monetary policy or external economic shocks could alter the trajectory of this trend.
Data & projection
| Year | Real Effective Exchange Rate | YoY change | Rank |
|---|---|---|---|
| 2029* trend | 113.66 | - | - |
| 2028* trend | 116.74 | - | - |
| 2027* trend | 119.82 | - | - |
| 2026 | 122.06 | +1.23 | #57 |
| 2025 | 120.83 | +6.79 | #57 |
| 2024 | 137.80 | +27.63 | #101 |
| 2023 | 133.47 | +24.57 | #101 |
| 2022 | 131.14 | +26.90 | #100 |
| 2021 | 126.72 | +26.72 | #100 |
| 2020 | 120.82 | +12.21 | #95 |
| 2019 | 130.68 | +14.65 | #104 |
| 2018 | 140.45 | +20.79 | #104 |
| 2017 | 144.16 | +37.31 | #106 |
| 2016 | 128.56 | +33.95 | #100 |
| 2015 | 113.75 | +21.76 | #89 |
| 2014 | 111.11 | +25.00 | #91 |
| 2013 | 104.01 | +20.70 | #79 |
| 2012 | 99.83 | +16.72 | #59 |
Detected Pattern
Analysis
Iceland matched the Export Boom Cycle pattern in 2016. Historically, 71% of countries showing this pattern (546 out of 768) saw real effective exchange rate improve within 24 months. View full analysis →
Frequently Asked Questions
Iceland's real effective exchange rate was 122.06 in 2026. Ranked 57th globally. This represents a 1.0% increase from the previous year.
Iceland's real effective exchange rate peaked at 156.98 in 2005.
The lowest real effective exchange rate in Iceland was 96.68 in 2009.
Iceland ranks 57th globally in real effective exchange rate as of 2026.
The World Bank indicator code is PX.REX.REER. Data sourced from BIS.
Iceland's real effective exchange rate is projected to reach 119.82 by 2027 based on trend extrapolation.
The real effective exchange rate of Iceland in 2026 was 122.06. This ranks 57th in the world.
Cite this page
@misc{historysaid_iceland_reer,
title = {Iceland Real Effective Exchange Rate},
url = {https://historysaid.com/iceland/reer/},
publisher = {HistorySaid},
year = {2026}
}