Currency: Icelandic Krónur
Meals

Budget: Ikr715-1000
Mid-range: Ikr1000-1500
High: Ikr1500-1800
Deluxe: Ikr1800+

Lodging

Budget: Ikr1400-3600
Mid-range: Ikr3600-5000
High: Ikr5000-7200
Deluxe: Ikr7200+

Because just about everything must be imported, food, accommodation and transport prices in the North Atlantic are high. In fact, Iceland is generally considered second only to Japan in its ability to deplete travellers means. If you can happily drop US$500 a day you won’t encounter any problems, but those with finite means may have to put in some effort not to break the budget. If you’re willing to give up some comforts and sleep in youth hostels, eat at snack bars and travel on bus passes, you’ll probably be able to keep expenses down to an average of about US$50-60 per day. Europeans bringing a private vehicle to Iceland, especially a campervan or caravan, will be able to enjoy a bit more comfort while still keeping within a reasonable budget. Petrol prices are over US$1 per litre though, so be prepared.

Foreign-denomination travellers cheques, postal cheques and banknotes may be exchanged for Icelandic currency at any bank. A commission of about US$2.50 will be charged, regardless of the amount changed. Major credit cards are accepted at most places. Icelanders are plastic mad and use cards even for buying groceries and other small purchases.

Tipping is not required: finer restaurants will automatically add a service charge to the bill making further tipping unnecessary. Even so, those who feel compelled to tip for particularly good or friendly service will not be refused