ISK to XAF

ISK - Icelandic Króna (ISK)
XAF - Central African CFA Franc (FCFA)
1 ISK1 XAF

Currency conversion rates from ISK to XAF

ISKXAF
1 ISK1 XAF
5 ISK5 XAF
10 ISK10 XAF
20 ISK20 XAF
50 ISK50 XAF
100 ISK100 XAF
250 ISK250 XAF
500 ISK500 XAF
1000 ISK1000 XAF
2000 ISK2000 XAF
5000 ISK5000 XAF
10000 ISK10000 XAF
XAFISK
1 XAF1 ISK
5 XAF5 ISK
10 XAF10 ISK
20 XAF20 ISK
50 XAF50 ISK
100 XAF100 ISK
250 XAF250 ISK
500 XAF500 ISK
1000 XAF1000 ISK
2000 XAF2000 ISK
5000 XAF5000 ISK
10000 XAF10000 ISK

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)


XAF - Central African CFA Franc (XAF)

Central African CFA Franc

The CFA Franc BEAC is pegged to the Euro at 1 Euro = 655.957 XAF. It is the currency for six independent states in central Africa: Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea and Gabon.

The Central African CFA is the currency in Cameroon (CM, CMR), Central African Republic (CF, CAF), Chad (TD, TCD), Congo (CG, COG), Equatorial Guinea (GQ, GNQ), and Gabon (GA, GAB). The Central African CFA is also known as Communaute Financiere Africaine BEAC Francs. The symbol for XAF can be written CFAF. The Central African CFA is divided into 100 centimes. The exchange rate for the Central African CFA was last updated on Today from The International Monetary Fund. The XAF conversion factor has 6 significant digits.

Economy

  • Cameroon is one of the most prosperous countries in Africa. The drop in commodity prices for its principal exports—petroleum, cocoa, coffee, and cotton—in the mid-1980s, combined with an overvalued currency and economic mismanagement, led to a decade-long recession. Real per-capita GDP fell by more than 60% from 1986 to 1994.
  • The Central African Republic (CAR) is classified as one of the world's least developed countries, with an estimated annual per capita income of $700 (2009).
  • Landlocked Chad's economic development suffers from its geographic remoteness, drought, lack of infrastructure, and political turmoil. About 85% of the population depends on agriculture, such as the herding of livestock.
  • The economy of the Republic of the Congo is a mixture of village agriculture and handicrafts, an industrial sector based largely on petroleum extraction, support services, and a government characterized by budget problems and overstaffing.
  • Equatorial Guinea‘s GDP has forestry, farming, and fishing as major components. Subsistence farming predominates. Although pre-independence Equatorial Guinea counted on cocoa production for hard currency earnings, the neglect of the rural economy under successive regimes has diminished the potential for agriculture-led growth.
  • Gabon depended on timber and manganese until oil was discovered offshore in the early 1970s. The oil sector now accounts for 50% of GDP and 80% of exports. Oil production is now declining from its peak of 370,000 barrels per day (59,000 m3/d) in 1997. The 1998 fall-off in oil prices had a negative impact on government revenues and the economy. Gabon public expenditures from the years of significant oil revenues were not spent well.

History

  • BEAC stands for Banque des Etats de l'Afrique Centrale.
  • The CFA Franc BEAC was introduced to the French colonies in Equatorial Africa in 1945, replacing the French Equatorial African Franc. The equatorial African colonies and territories using the CFA Franc BEAC were Chad, French Cameroun, French Congo, Gabon and Ubangi-Shari.
  • The currency continued in use when these colonies gained their independence. Equatorial Guinea, the only former Spanish colony in the zone, adopted the CFA Franc in 1984, replacing the Equatorial Guinean Ekwele at a rate of 1 Franc = 4 Bipkwele.
  • In 1948, coins were issued for use in all colonies (except French Cameroon) in denominations of 1 and 2 CFA Franc BEAC. This was the last minting of a 2-franc coin for nearly 50 years.
  • In 1958, 5-, 10- and 25-franc coins were minted (and used in French Cameroon). These coins bore the name of Cameroon, as well as the États de l'Afrique Equatorial.
  • In 1961, nickel 50-franc coins were introduced, followed by nickel 100-franc coins in 1966. Since 1971, 100-franc coins were issued by individual states. In 1976, cupro-nickel 500 francs coins were introduced.
  • Since 1985, coins have also been issued by individual states. That year also saw the introduction of 5-, 25-, 50- and 100-franc coins for use in Equatorial Guinea.
  • When the CFA Franc BEAC was introduced, notes issued by the Caisse Centrale de la France d'Outre-Mer ("Central Cashier of Overseas France") in denominations of 5, 10, 20, 100 and 1,000 Francs were in circulation. In 1947, a new series of notes was introduced for use in French Equatorial Africa, although the notes did not bear the name of the colonies. Notes were issued in denominations of 5, 10, 20, 50, 100 and 1,000 Francs, followed by those of 500 Francs in 1949, and 5,000 Francs in 1952.

More information about XAF - Central African CFA Franc (XAF)