Iceland: Exchange rate regimes

The latest value from 2023 is 7 index points, unchanged from 7 index points in 2022. In comparison, the world average is 5 index points, based on data from 186 countries. Historically, the average for Iceland from 1999 to 2023 is 7 index points. The minimum value, 4 index points, was reached in 1999 while the maximum of 7 index points was recorded in 2008. See the global rankings or world map for that indicator or use the country comparator to compare trends over time.

Definition: The data are from the IMF Annual Reports on Exchange Arrangements and Exchange Restrictions. A higher value of the index indicates more exchange rate flexibility: 1 = the country has no independent legal tender; 2 = currency board; 3 = conventional peg; 4 = target zone; 5 = crawling peg; 6 = other managed exchange rate regimes; 7 = floating regime. The IMF categorization does not include currency unions. Instead, it assigns to the member country the regime of the union it is a part of. For example, all EMU members are assigned a floating exchange rate regime. The data begin with the latest change of the IMF categorization in 2008.