The national currency, the Icelandic krona (“ISK”), still floats in the Forex market, but economists believe that if present controls were removed too soon, then the current scenario of an appreciating national currency and recovering economy could be placed in jeopardy. Depreciation of the currency then overtook the headlines, as the worst recession in the past eighty years swept the globe. The Monetary Policy Committee, the “MPC”, installed modified currency exchange controls on various investment securities to prevent a wholesale diminution of the krona from occurring. Icelanders remain mixed in their opinion about the benefits of disbanding their national currency in favour of the euro. Tom currently works as a market analyst for Forex Traders, an online resource for the foreign exchange market.