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Money and costs

Kronur (kr)
Exchange Rates
Rates provided by Open Exchange Rates. Last updated May 29, 2017 12:48PM UTC
Daily Costs
Budget (up to)
  • Camping: kr1200–1800
  • Dorm bed: kr4500–7000
  • Hostel breakfast: kr1800–2000
  • Grill-bar grub or soup lunch: kr1500–2200
  • One-way bus ticket Reykjavík–Akureyri: kr8800–9300
  • Guesthouse double room: kr18,000–28,000
  • Cafe meal: kr2500–3500
  • Museum entry: kr1000
  • Small vehicle rental (per day): from kr10,000
Top end (more than)
  • Boutique double room: kr30,000–40,000
  • Main dish in top-end restaurant: kr4000–7000
  • 4WD rental (per day): from kr20,000

Iceland is an almost cashless society where credit cards reign supreme, even in the most rural reaches. PIN required for purchases. ATMs available in all towns.


As service and VAT taxes are always included in prices, tipping isn’t required in Iceland. Rounding up the bill at restaurants or leaving a small tip for good service is appreciated.