July 11, 2017 / 2:13 PM / a year ago

Icelandic crown plunges 1.7 percent versus dollar and euro

LONDON, July 11 (Reuters) - The Icelandic crown suffered its biggest fall on Tuesday since it lifted the bulk of its capital controls back in March, slumping 1.7 percent versus both the dollar and the euro.

It is now at a 2-1/2 month low against the dollar and a five-month low against the euro.

The falls left the crown at just under 107 to the dollar and 122 to euro. March’s drop of almost 2.5 percent versus the euro came as it removed most of the capital controls it had put in place eight years earlier after one of the world’s most extreme banking busts. (Reporting by Marc Jones; editing by Abhinav Ramnarayan)

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