Foreign claimants on the estates of bankrupt Icelandic banks Kaupþing, Glitnir and Landsbanki will be paid recovered funds up to ISK 450 billion (EUR 2.82 billion) in Icelandic krónur in the next year or so, and they will not be able to convert into foreign currency. Read the full story

At the same time as the Icesave case continues, the EFTA court has already passed verdict on another Icelandic issue and came down on the site of the Reykjavík authorities: Iceland’s currency control restrictions do not break European law. Read the full story

An Icelandic economist says the Central Bank of Iceland’s intention to use investment as a way to reduce the risk associated with removing currency exchange restrictions is a good one; but that questions should still be asked about whether or not the Icelandic króna is a viable currency. Read the full story

The governor of the Central Bank of Iceland says that preparations are now being made to remove the country’s capital controls, which have served to stabilise the krona currency, but are also hampering inward investment. Read the full story

The Central Bank of Iceland has sent 11 cases of suspected currency exchange control breaches for investigation by the financial crimes division of the national police. Read the full story

The governor of the Central Bank of Iceland says it is time to investigate whether krona denominated coins and notes are too small following decades of inflation. Read the full story

The Central Bank of Iceland is advertising for the submittal of offers to sell Icelandic kronur for cash payment in foreign currency. Read the full story

Lars Christensen, chief analysist at Danske Bank, says that the Icelandic economy is on course for recovery after the banking crash in 2008. His forecast says there is reason to believe the Icelandic krona will strengthen by up to 25 percent in three years. Read the full story

Written by Tom Cleveland, foreign exchange market analyst: While the major foreign exchange event of the past decade would surely be the highly successful introduction of the euro, many may have overlooked the results of the more northern “crown” currencies, those belonging to Scandinavian countries and the Republic of Iceland. Read the full story

The EU says it is ready to provide Iceland with help and technical guidance in lifting the capital controls currently in operation. Read the full story