ISK to BBD

BBD - Barbadian Dollar (BBD)

Barbadian Dollar

The Barbados Dollar (BBD) has been the currency of Barbados since 1935. The symbol used for the dollar is the same as the US Dollar ($). However, BDs$ is used to distinguish the BBD from other dollar currencies. The Barbados Dollar is subdivided into 100 cents.

The Barbados Dollar is the currency in Barbados (BB, BRB). The Barbados Dollar is also known as BDS. The symbol for BBD can be written Bds$. The Barbados Dollar is divided into 100 cents. The exchange rate for the Barbados Dollar was last updated on May 24, 2019 from Yahoo Finance. The BBD conversion factor has 2 significant digits.

Economy

• The main industries in the economy are tourism and offshore investments.
• Other income is from sugar and light manufacturing.
• The Barbados economy is a service-driven economy, as well as an international business center.
• The average growth rate for the Barbados economy ranges from 3.5% to 5%.
• No substantial exports come from Barbados and the country relies largely on imports.
• Barbados focuses on developing the service sector, from financial services to educational and health services.
• Agriculture is mainly sugar cane farming. The main food crops are corn, sweet potatoes, eddos, yams, and cassava.
• Construction is a secondary industry and is mainly due to tourism and residential growth.

History

• Barbados formed part of the British Caribbean territories. The British Pound Sterling was adopted by Barbados in 1848.
• After the Pound was adopted, the previous silver pieces continued to circulate, especially in the private sector.
• The first dollar form of banknotes was issued in 1882.
• In 1949, the British West Indies dollar was introduced, and Barbados was officially tied in with the British Eastern Caribbean islands.
• In 1965, Barbados replaced the British West Indies Dollar with the Eastern Caribbean Dollar.
• In 1972, the present Dollar was introduced by the Central Bank of Barbados.
• Since 1975, the Barbados Dollar has been pegged to the United States Dollar at 2BDs$ = 1 USD.

More information about BBD - Barbadian Dollar (BBD)

ISK - Icelandic Króna (kr)

Icelandic Króna

The Krona is the official currency of Iceland, a island country in the North Atlantic Ocean, situated over the Mid-Atlantic Ridge. The island is volcanically and geologically active because it straddles the spreading boundary of the North American and European tectonic plates. The capital and largest city is Reykjavík, with the city’s surrounding areas in the southwest region of the country home to two thirds of the country’s population.

The Icelandic Krona is the currency in Iceland (IS, ISL). The Icelandic Krona is also known as Kronas. The symbol for ISK can be written IKr. The Icelandic Krona is divided into 100 aurar. The exchange rate for the Icelandic Krona was last updated on January 18, 2019 from The International Monetary Fund. The ISK conversion factor has 6 significant digits.

Economy

• Except for its abundant hydroelectric and geothermal power, Iceland lacks natural resources.
• Historically, Iceland depended heavily on fishing, which still provides 40% of export earnings and employs 7% of the workforce despite declining fish stocks.
• Abundant hydro-electric capacity has allowed Iceland to encourage power-intensive industries, including aluminium and ferro-silicon smelting plants.
• In the 1990s, Iceland introduced extensive free market reforms and as a result gained some of the world’s highest ratings for economic and civil freedoms and egalitarianism, and was applauded for its strong economic growth and rapidly expanding financial system.
• By 2007, the country was ranked: seventh in the list of the world's most productive countries per capita, at U.S. $ 54,858; and fifth in GDP purchasing power parity ($ 40,112). That same year it topped the list of nations ranked by Human Development Index (HDI).
• As early as 2006, Iceland’s economy was facing problems of growing inflation and current account deficits, partly as a result of the earlier free market reforms. In 2008, the financial system collapsed entirely in a sweeping financial crisis precipitated by bank failures. Iceland had to obtain emergency funding from the International Monetary Fund and a range of European countries in November 2008.

History

• The Króna is composed of 100 aurar, although coins in any denomination less than one króna have not circulated since 2003.
• The Danish Krone was introduced in Iceland in 1874, replacing the earlier Danish currency, the rigsdaler. In 1885, Iceland began to issue its own banknotes.
• The Iceland Króna was issued separate from the Danish Krone after the dissolution of the Scandinavian Monetary Union at the beginning of World War I, and Iceland’s autonomy from Denmark in 1918.
• The first coins were issued in 1922, in denominations of 10 and 25 aurar. These were followed in 1925 by 1-króna and 2-krónur coins, and in 1926 by 1-eyrir, 2-aurar and 5-aurar coins.
• In 1946, the design of all coins was altered to remove the royal monogram, after Iceland's independence from Denmark was precipitated by Denmarks’ occupation by Nazi Germany.
• In 1981, the Iceland Krona was revalued, with 100 old krónur (ISJ) valued at 1 new Iceland Krona (ISK).
• In 1981, coins were introduced in denominations of 5, 10 and 50 aurar, 1 króna and 5 krónur. These were followed by 10 krónur pieces in 1984, 50 krónur in 1987 and 100 krónur in 1995.
• As of 1 October 2003, Icelandic banks no longer accepted the 5, 10 and 50 aurar coins.

More information about ISK - Icelandic Króna (kr)