Some pre-trip research advises that the currency situation in Iceland (Reykjavík) is quite volatile and it's best to use 'electronic' currency (credit, debit cards) as much as possible. For a 3-day stay, is it possible to avoid the local currency (ISK) entirely and to do all transactions (restaurants, grocery stores, transportation) using our US-bank plastic? We'll be coming from Europe and will have both Euro & Sterling, both of which sound like they are not useful other than at the airport proper. What have been your 'currency' experiences -- good and bad -- while traveling in Reykjavík? ... any particular recommendations to note?? Thanks!
Posted by
Seattle, Washington, United States
284 posts
Prices aren't going to swing wildly over a couple of days while you are there and the currency isn't going swing wildly while you're there. Using your credit card exposes you to fluctuations in currency, since the exchange rate is updated daily. Using currency exposes you to inflation and variation in the value of the currency, if you buy it far in advance or there is a massive (and severely unlikely) drop in the value of the currency within those three days you are there. In other words, you are probably better off getting some ISK and not paying more to avoid the local currency. For your short stay, you aren't going to be exposed to any major changes in price or value of the currency.