wildebeestus

We're off to Reykjavik after Christmas for some icy fun and hopes for an eyeful of the Northern Lights. What should we do about spending money??? What are most of the restaurants and businesses accepting? Should we rely on our credit cards or exchange at the airport? Any advice would be appreciated!!

DalaiLlama

With the ISK worth 0.0079 USD, or the USD worth 126 ISK, as of this minute - everything is crazy and in flux.

I would make a couple of phone calls to Iceland, to your hotel and to other numbers you can glean from the internet. Ask what kind of money they will want to see.

Things seem to change daily, so even if somebody came back a few days ago, maybe their report wouldn't tell you what you need to know.

Also keep track by going to Google frequently, selecting News and inputting Iceland currency and such key words.

In your situation I would take a big fat wad of greenbacks in a moneybelt, tens and twenties and tons of singles.

Follow the news and ask locals when there. Watch out for riots in the streets. Even Icelanders seem capable of venting their anger. See this Bloomberg report:
http://tinyurl.com/9ceyfd

It could get quite grim.

cruiseluv

Dalailama is giving you good advice. This country has imploded and the situation is very unstable. I was there this past August, before the debacle, and our tour guide boasted about their high standard of living, etc. A few weeks later there was total chaos and pandemonium.

DougWeller

Wouldn't the most sensible thing be to use an ATM and get ISK while you are there?

suerapzen

As of 10 days ago, the atms were working fine as were the banks. The krona is alive and hopefully for the Icelanders, getting better. We used the atms at the airport and in town and also our credit cards without a problem.
hope you have better luck with the northern lights than we did!!
Suzanne

suerapzen

oh also, no riots, no beggers, no disturbances, if you don't count the usual Icelandic Saturday night partyers.
All was business as usual as it was last time we were there in June 2007 -- except of course, much cheaper for us!!
The people are understandably concerned as all of us are about the worldwide financial problems but the stores were stocked, the restaurants were crowded and the people were very happy to see tourism is doing well.

wildebeestus

Thanks all for the advice! The krona is alive and well, but we were able to do everything, including cab, with plastic. What a country, friendly, proud, stoic people! New Year's in Reykjavik is a one of a kind experience - the towering bonfires around the city, capped by hours of grand finale style fireworks. The hotels sold out. For those worrying about riots, the gatherings of protest have been centered at the government offices, not really in areas of tourist attraction. The tourists were plentiful, and the Icelandic folks were glad to take whatever currency we brought in!! The Northern Lights, however, were bashful, hidden by clouds all week. Had a wonderful time without them!!!

teacherCanada

wildbeestus

I'm glad your trip was successful. I really appreciate the fact that you returned to this thread to let everyone know how things turned out. So often on Fodor's advice is sought out, offered freely and then we never hear how things end up.

Thanks again.

tC

DalaiLlama

Just wondering what the reports for weeks now on reputable sources like BBC and CNN and so on were about then? Currency collapse, people in the streets, unrest, bailout by EU, payment defaults - you went and saw nothing of all that?