verðgjaldmiðlar
Verðgjaldmiðlar refers to a concept in Icelandic economics and finance. The term translates to "price currency" or "pricing currency" in English. It is used to describe a currency that is primarily used for pricing goods and services, rather than for direct transaction or as a store of value. This distinction is important in understanding how different currencies function within an economy, especially in a small, open economy like Iceland's, which is heavily influenced by international trade and exchange rates.
In the context of Iceland, while the Icelandic Króna (ISK) is the official legal tender, certain goods
When a foreign currency acts as a verðgjaldmiðill, its value relative to the ISK directly impacts the