Still Learning Icelandic Money

Banking is in a high state of turmoil with the 2nd and 3rd largest banks being taken over by the government. We are trying to get a bank account set up with the 2nd largest because that is who the Church uses and thought it would be the easiest way to pay our rent as the Church made the rental agreement so they have to pay it and then we reimburse them. The bank would not let me make a deposit and then only 500,000 kronar which is approximately $500 right now. I ask why I could only make one deposit and they said with the mess the banks are in right now they are restricting what can be done. So today I will hopefully make another 500,000 deposit and then again on Friday so I can pay the rent. Our landlord is very upset with all that is happening and says she can’t even get her money which is in Denmark so she can pay her bills. Will be interesting to see what happens over the next several months. It seems if we could buy Icelandic kronar other than in Iceland we would get it really cheap but not here.

We were grocery shopping today and one of the clerks is a member of the Church. He was redoing pricing on the shelves and I asked if the price of everything was going up and he said yes. To give you a concept of high – toilet paper was approximately a dollar a roll.