We Picked the Wrong Week to Króna

The Icelandic króna has been dropping relative to the Canadian dollar over the last week, so that today almost exactly 100 krónur are equal to one Canadian dollar, whereas two weeks ago they were worth about $1.10.

This means that our 34,000 krónur 3-day apartment rental in Reykjavik two weeks ago at that cost us $371 then would cost us $340 today. Not an earth-shattering drop for us, but extrapolated out over an entire economy I expect the drop is rather profound.